As a separate project (Project P), the firm is considering sponsoring a pavilion at the upcoming World's Fair. The pavilion's initial outlay at t = 0 is $800,000, and it is expected to result in $5 million of incremental cash inflows during its one year of operation. However, it would then take another year, and a $5 million cash outflow to demolish the site and return it to its original condition. Thus, Project P's expected cash flows (in millions of dollars) look like this: Year Cash Flow 0 ($0.8) 1 $5.0 WACC = 10% 2 ($5.0) The project is estimated to be of average risk, so its WACC is 10%. (6) What is Project Ps NPV? What is its IRR? Its MIRR? NPV = IRR = MIRR = However, since this project has nonnormal cash flows, we must be aware of the possibility of multiple IRRs. Perform the IRR calculation again, but this time a guess of 300% will be entered to test for another IRR. IRR = Do two IRRs exist? If yes, why? If no, why?