A project requires a $2,000,000 initial investment, and will yield incremental after-tax cash flows of $450,000 per year for 14 years. What is the IRR of the project, stated as an APR compounded annually?

An $4,000,000 investment project has a 12-year life. The initial investment will be depreciated to zero using straight-line over the project life. The project is expected to yield incremental sales of $2,000,000 per year and incremental expenses of 1,400,000 per year. What is the after-tax operating cash flow (OCF) associated with this project if the firm has a tax rate of 34% ?