9-3B. (IRR calculation) Determine the internal rate of return to the nearest percent on the following projects:

a. An initial outlay of $1 0,000 resulting in a cash flow of $3,000 at the end ofyear 1, $5,000 at the end of year 2, and $7,500 at the end of year 3

b. An initial outlay of$12,000 resulting in a cash flow of $9,000 at the end ofyear 1, $6,000 at the end of year 2, and $2,000 at the end ofyear 3

c. An initial outlay of$8,000 resulting in a cash flow of$2,000 at the end ofyears 1 through 5 and $5,000 at the end ofyear 6