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(IRR of an uneven cash flow stream) Microwave Oven Programming, Inc. is considering the construction of a new plant. The plant will have an initial

(IRR of an uneven cash flow stream) Microwave Oven Programming, Inc. is considering the construction of a new plant. The plant will have an initial cash outlay of $6.4 million (CF0 = $6.4 million), and will produce cash flows of $3.9 million at the end of Year 1, $5.4 million at the end of Year 2, and $1.8 million at the end of Years 3 through 5. What is the internal rate of return on this new plant?

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