Calculate the Internal Rate of Return of the following opportunity for both company X (WACC: 6.20%) and company Y (WACC: 7.46%).

Project Y expands specialty manufacturing services to defense contractors located in the Seattle, WA area. The initial outlay is $300 million and management estimates that the firm might generate cash flows for years one through five as follows: Year 1 $50,000,000; Year 2 $75,000,000; Year 3 $150,000,000; Year 4 $200,000,000; and Year 5 $200,000,000.