The preferred project in this case depends on the discount rate, not the IRR.

该例中，我们倾向选择哪个项目取决于贴现率，而不是内部收益率。

youdao

For project 4, the signs of the cash flows are + - +. Because the signs of the cash flows change twice, a unique IRR is not guaranteed in this case either.

对于项目4现金流的符号是+ - + .由于现金流的符号变化了2次这里唯一的IRR也是不确定的。

youdao

For project 3, the signs of the cash flows are - + - +. Because the sign of the cash flows changes three times, a unique IRR is not guaranteed.

对于项目3现金流的符号是- + - + .由于现金流的符号变化了3次唯一的IRR是不确定的。

youdao

One recent examination of primary and secondary buyouts in Europe between 1989 and 2006 found that the median IRR for the secondary buyouts was 32 percent, not far below the 36 percent the primary buyouts earned (see figure below).

FORBES: Private Equity Deal Supply And Range Will Increase