(IRR, Payback, and calculating a missing cash flow) Mode publishing is considering a new printing facility that will involve a large initial outlay and then result in a series of positive cash flows for four years. The estimated cash flows associated with this project are:

Year Project Cash Value

0 ?

1 $810 Million

2 $350 Million

3 $280 Million

4 $450 Million

If you know that the project has a regular payback of 2.9 years, what is the project's internal rate of return?