XYZ Corporation is considering investing in a highly volatile project in the tech industry. The

project involves developing a new software product whose initial investment is KES $2,000,000.$

However, due to the unpredictable nature of the industry, there is considerable uncertainty

regarding the cash flow projections. XYZ Corporation estimates three possible scenarios for the

project's cash flows:Scenario $1($Optimistic$)$:

$$ Year $1$: KES $400,000$

$$ Year $2$: KES $800,000$

$$ Year $3$: KES $1,200,000$

$$ Year $4$: KES $1,600,000$

$$ Year $5$: KES $2,000,000$

Scenario $2($Expected$)$:

Year $1$: KES $300,000$

Year $2$: KES $600,000$

Year $3$: KES $900,000$

Year $4$: KES $1,200,000$

Year $5$: KES $1,500,000$

Scenario $3($Pessimistic$)$:

$$ Year $1$: KES $200,000$

$$ Year $2$: KES $400,000$

$$ Year $3$: KES $600,000$

$$ Year $4$: KES $800,000$

$$ Year $5$: KES $1,000,000$

Required:

Calculate the Internal Rate of Return $($IRR$)$ for each of the three scenarios.