x 1 connors Music is considering investing $650,000 in private lesson studios th INSTRUCTIONS: Connors Music is considering investing $650,000 in private lesson studios that will have no residual value. The studios are expected to result in annual net cash inflows of $90,000 per year for the next ten years REQUIREMENT 1. What is the approximate internal rate of return (IRR) of the studio investment? e Enter in the investment in cell A1 as a negative value e in the cell below, cell A2, type in the cash flow expected in Year 1. In the next cell below type in the cash flow expected in Year 2. Continue in the same fashion until all future cash flows are shown in separate cells, in the order in which they are expected to be received. Enter cash inflows as positive amounts and cash outflows as negative amounts. * Enter the IRR in the cell below the last cash flow in column A. Use cell references and formulas, where possible, in order to receive full credit. SAVE & SUBMIT: After entering your answer in the second tab (ENTER SOLUTION HERE), save your spreadsheet by dlicking FILE > SAVE AS. Make sure you DO NOT included spaces in your file name, and remember to save the file somewhere you will be able to find it, such as the Desktop