1. The Huey Company is contemplating a $20,000 investment in an automatic mosquito repellant system for South Carolina backyards. The Environmental Protection Agency will pay this company a single payment of $50,000 after 12 years for this investment. What is the approximate IRR for this investment? a) 7.2% b) 7.8% c) 7.9% d) 8.2% 2. The Dewey Company, a company that makes shoulder pads for football players, plans to make an investment of $40,000 which will yield free cash flows back to the firm of $8,000 at the end of each year for the next 10 years. What is the approximate IRR of this investment? a) 10.1% b) 12.6% c) 15.1% d) 18.1% 3. Louie Inc., a very quiet and excellent company, manufactures sledge hammers. They plan to have an initial outlay of $2,000,000 to produce a new ten pound sledge. The investment would return incremental free cash flows of $400,000 per year for 8 years. Louie's required rate of return for any investment is 9%. The NPV of this investment is approximately: a) $142,000 b) $186,000 c) $214,000 d) $341,000