Suppose you invest 2,500 today and receive 9,250 in five years.

a. What is the internal rate of return (IRR) of this opportunity?

b. Suppose another investment opportunity also requires 2,500 upfront but pays an equal amount at the end of each year for the next five years. If this investment has the same IRR as the first one, what is the amount you will receive each year?

a. What is the internal rate of return (IRR) of this opportunity? The IRR of this opportunity is enter your response here%. (Round to two decimal places.)