Bill Clinton reportedly was paid $12 million to write his book My Life. The book took three years to write. In the time he spent​ writing, Clinton could have been paid to make speeches. Given his​ popularity, assume that he could earn $9.00 million per year​ (paid at the end of the​ year) speaking instead of writing. Assume his cost of capital is 10.0 % per year. a. Based on the above cash​ flows, how many IRRs does the opportunity​ have? Does the IRR rule give the right answer in this​ case? b. Assume now that once the book is​ finished, it is expected to generate royalties of $4.80 million in the first year​ (paid at the end of the​ year) and these royalties are expected to decrease at 30% per year in perpetuity. How many IRRs are there in this​ case? Does the IRR rule work in this​ case?