Year-End Cash Flows ($ thousands)
Project 0 1 2 IRR
Playhouse 230 15 20 10.4%
Fort 280 39 52 8.6%
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There are two sheets in the attached excel sheet. Sheet one shows if cash flow are occurring on 1 Jan and investment is also made on 1st Jan. (As described by you)
Sheet two shows cash inflow on 31 Dec and Cash outflow on 1st Jan.