Determine to the nearest percent the IRR on the following projects:

a. An initial outlay of

$12,000

resulting in a free cash flow of

$3,500

at the end of year 1,

$6,500

at the end of year 2, and

$8,000

at the end of year 3b. An initial outlay of

$12,000

resulting in a free cash flow of

$8,000

at the end of year 1,

$6,500

at the end of year 2, and

$3,500

at the end of year 3c. An initial outlay of

$12,000

resulting in a free cash flow of

$3,500

at the end of years 1 through 5 and

$6,500

at the end of year 6

a. What is the IRR of a project with an initial outlay of

$12,000

resulting in a free cash flow of

$3,500

at the end of year 1,

$6,500

at the end of year 2, and

$8,000

at the end of year 3?

enter your response here%

(Round to two decimal places.)b. What is the IRR of a project with an initial outlay of

$12,000

resulting in a free cash flow of

$8,000

at the end of year 1,

$6,500

at the end of year 2, and

$3,500

at the end of year 3?

enter your response here%

(Round to two decimal places.)c. What is the IRR of a project with an initial outlay of

$12,000

resulting in a free cash flow of

$3,500

at the end of years 1 through 5 and

$6,500

at the end of year 6?

enter your response here%

(Round to two decimal places.)