month period. The cash flows are expected to continue forever. The first cash flow is expected 6 months after the initial investment Project Y will have a single cash flow of $Z, which will be received exactly 5 years after the initial investment. The IRR on both projects is the same Question 5.17 A corporation is considering an investment in one of two potential projects. Each project requires an initial investment of $5,000. Project X will produce cash flows of $300 at the end of each SOA/CAS (amended) Question 5.18 20