The statement above is false.
The internal rate of return (IRR) for a project will increase if the initial cost of the project can be reduced or we can conclude that IRR increase if initial outlay decreases.
The internal rate of return (IRR) can be described as a metric used in financial analysis to estimate the profitability of potential investments. Internal rate of return (IRR) also can be described as a discount rate that makes the net present value (NPV) of all cash flows equal to zero in a discounted cash flow analysis. To calculate internal rate of return, it has same formula as NPV does.
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