9. Microwave Oven Programming, Inc. is considering the construction of a new plant. The plant will have an initial cash outlay of

$8.4

million ( =

$8.4

million), and will produce cash flows of

$2.3

million at the end of year 1,

$4

million at the end of year 2, and

$2

million at the end of years 3 through 5. What is the internal rate of return on this new plant?