The Melbourne Corp. wants to set up a private holiday business. According to the CFO, Larry Sheep. business is booming. As a result, the project will provide a net cash inflow of $200,000 for the firm during the first year, and the cash flows are projected to grow at a rate of 7 percent per year forever. The project requires an initial investment of $2,000,000. What is the IRR of this project? 3% 17% 7% 12.3% 10% Question 17 1 pts Earnhardt Driving School's 2017 balance sheet showed net fixed assets of $3.1 million, net working capital of 1 million, and long-term debt of 0.5 million. The 2018 balance sheet showed net fixed assets of $3.0 million, net working capital of 2 million, and long-term debt of 1 million. The company's 2018 income statement showed a depreciation expense of $0.5 million and net income of 1.3 million. What was net capital spending for 2017 ? $2.1 million - $0.1 million $0.9 million $0.4 million