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3 ) Calculate the internal rate of return on the following projects: a . Initial outlay of $ 6 0 , 5 0 0 with

3) Calculate the internal rate of return on the following projects:
a. Initial outlay of $60,500 with an after-tax cash flow of $11,897 per year for eight years.
b. Initial outlay of $647,000 with an after-tax cash flow of $118,000 per year for ten years.
c. Initial outlay of $25,400 with an after-tax cash flow $11,788 per year for three years.

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