Question 6: (10 points) (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: If you know that the project has a regular payback of 2.9 years, what is the project's internal rate of return? a. The IRR of the project is: %

Year Projected Cash Flow

0 ?

1 810 million

2 350 million

3 280 million

4 450 million