The ScogginCorporation is evaluating the following project. The CFO has determined that the appropriate risk-adjusted discount rate is 8%.

Year Cash Flow

0 -10,000,000

1 2,950,000

2 2,500,000

3 2,800,000

4 -1,000,000

5 2,500,000

6 2,000,000

7 -1,000,000

8 2,000,000

9 2,000,000

Questions:

1. Calculate the payback period for the project. (Round to 3 decimals)
2. Calculate the discounted payback period for the project. (Round to 3 decimals)
3. In theory, how many potential IRRsexist for the project?(enter a whole number)