The Barby Division at Mattel Toys is considering the acquisition of a laser tattoo applicator that will be able to add custom-designed tattoos to the Barby doll. The machine costs $300M. The addition of tattoos to the iconic toy is expected to increase demand and raise free cash flow by $90 million over the next five years (at the end of each year). The machine has no anticipated resale value in five years. What is the project's IRR?
◦ 14.24%
◦ 15.24%
◦ 15.74%
◦ 16.24%
◦ 16.74%