1. What is the internal rate of return for a project that costs $1,000 up front and then pays $200, $300, $400, and $500 at the ends of years 1, 2, 3, and 4, respectively?

A. 12.70%

B. 2.83\%

C. 12.93\%

D. 13.00\%

E. 13.03%

2). What is the present value of an annuity due with monthly payments of $60 an 20 months to maturity given an annualized discount rate of 15.1%?

A. $429.89

B. $655.36

C. $1,068.36

D. $1,146.72

E. $4,588.11