Part A:

Consider a project that generates cash flows of $1,000,000.00, -$3,443,000.00, $3,949,800.00, and -$1,509,788.70 that occur at times 0, 1, 2, and 3 (years), respectively.

How many IRRs does this series of cash flows have?

Part B:

For the series of cash flows above, which one is the highest IRR? Provide your answer as a percentage with one decimal precision (e.g., 5.7 to represent an IRR of 5.7%). Make sure you use enough decimals in your calculations to that your result is accurate to this level of precision.

Part C:

For the series of cash flows above, which one is the second highest IRR? Provide your answer as a percentage with one decimal precision (e.g., 5.7 to represent an IRR of 5.7%). Make sure you use enough decimals in your calculations to that your result is accurate to this level of precision.