Mode Publishing is considering building a new printing facility that will involve a large initial outlay and then result in a series of positive free cash flows for 4 years. The estimated cash flows associated with this project are: YEAR PROJECT CASH FLOW 0 (initial outlay) ? 1 $800 million 2 400 million 3 300 million 4 500 million If you know that the project has a regular payback of 2.5 years, what is the projects internal rate of return?

If it's possible, could this be done without using excel?