2. (20 pts) The cash flows below are for a proposed automobile assembly plant in Delaware. Use the MIRR method with a borrowing rate of 8% per year and a reinvestment rate of 12% per year to determine the external rate of return for this project. You must draw a correct net cash flow diagram to get full credit for this problem. Year 0 1 2 3 4 5 6 7 8 9 10 Capital Costs Income ($ millions) ($ millions) -12 0 -300 0 -300 0 -200 200 0 300 0 300 0 300 0 300 0 300 0 300 0 300 3. (20 pts) Calculate the payback period for the automobile assembly plant in the previous problem assuming the company wants a 12% per year return on their investment. 2. (20 pts) The cash flows below are for a proposed automobile assembly plant in Delaware. Use the MIRR method with a borrowing rate of 8% per year and a reinvestment rate of 12% per year to determine the external rate of return for this project. You must draw a correct net cash flow diagram to get full credit for this problem. Year 0 1 2 3 4 5 6 7 8 9 10 Capital Costs Income ($ millions) ($ millions) -12 0 -300 0 -300 0 -200 200 0 300 0 300 0 300 0 300 0 300 0 300 0 300 3. (20 pts) Calculate the payback period for the automobile assembly plant in the previous problem assuming the company wants a 12% per year return on their investment