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Please SHOW ALL WORK. Thanks! Jack Smith reportedly was paid $9.7 million to write his book The Fork in the Road. The book took three

Please SHOW ALL WORK. Thanks!

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Jack Smith reportedly was paid $9.7 million to write his book The Fork in the Road. The book took three years to write. In the time he spent writing, Smith could have been paid to make speeches. Given his popularity, assume that he could earn $7.9 million a year paid at the end of he year speaking instead of writing his cost o capita s % p year, then the NPV of agreeing to write the book (ignoring any royalty payments) is $9,946,131. How many IRRs are there in this problem? Does the IRR rule give the right answer in this case? The IRR isHa (Round to two decimal places.)

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