How is the IRR calulated? Thanks

Search Speigner, Raquell SR X AutoSave O Off) E 4 E - FIN 550 Homework Student Workbook (15) - Excel Formulas Data Review View Help Power Pivot Share Comments File Home Insert Draw Page Layout fx O Define Name Buy Trace Precedents fx Show Formulas Calculate Now Use in Formula "Trace Dependents Error Checking Insert AutoSum Recently Financial Logical Text Date & Lookup & Math & More Name Watch Calculation Calculate Sheet Function Used v Time Reference Trig Functions Manager BO Create from Selection Fx Remove Arrows & Evaluate Formula Window Options Defined Names Formula Auditing Calculation Function Library K12 X V A B C D E F G H J K L M N O NPVy = -$10,000 3,125 + 2,491 + 2,790 2,224 11 + = + $631 12 13 14 15 Internal Rate of Return (IRR): 16 17 To solve for each project's IRR, find the discount rates that equate each NPV to zero: 18 19 IRRx 20 11 11 % IRRy 21 22 23 Modified Internal Rate of Return (MIRR): 24 25 To obtain each project's MIRR, begin by finding each project's terminal value (TV) of cash inflows: 26 TVx = 9132.032 + 3763.2 + 3360 + $1,0d 27 28 29 TVy = 4917.248 + 4390.4 + 3920 + $3,50 3-1 Question 1 3-1 Question 2 3-1 Question 3 5-2 Question 1 + + 100% Ready 2:18 PM Type here to search O e B a W 7/25/2020