1. A firm evaluates all of its projects by applying the IRR rule. A project under consideration has the following cash flows:

Year	Cash Flow
0	$	34,000
1		15,000
2		17,000
3		13,000

If the required return is 14 percent, what is the IRR for this project? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

2. POD has a project with the following cash flows:

Year	Cash Flows
0	$237,000
1	147,700
2	165,200
3	130,300

The required return is 8.1 percent. What is the profitability index for this project?

3. A project that costs $19,500 today will generate cash flows of $6,100 per year for seven years. What is the project's payback period?

4. What is the IRR of the following set of cash flows? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Year	Cash Flow
0	$	15,400
1		7,300
2		9,100
3		5,900