Instructions: Determine the answer for each of the following independent questions. You will need to use Excel for the calculations. Answers can be rounded to the nearest dollar, or nearest 1/10th of a percent. All work must be shown to be given credit.

Park City Mountain Resort, a Utah ski resort, announced a $415 million expansion of lodging properties, lifts, and terrain. Assume that this investment is estimated to produce $86 million in equal annual cash inflows for each of the first 10 years of the project life. Calculate the expected internal rate of return for this project.