Internal rate of return: Compute the IRR on the following cash flow streams:

a. An initial investment of $25,000 followed by a single cash flow of $37,450 in Year 6.

b. An initial investment of $1 million followed by a single cash flow of $1,650,000 in Year 4.

c. An initial investment of $2 million followed by cash flows of

$1,650,000 and $1,250,000 in Years 2 and 4, respectively.