Calculate the IRR, NPV, and PI for projects with the following cash flows. Do each NPV and PI calculation at costs of capital of 8% and 12%. Calculate IRRs to the nearest whole percent.
a. An initial outlay of $5,000 and inflows of $1,050 for seven years.
b. An initial outlay of $43,500 and inflows of $14,100 for four years.
c. An investment of $78,000 followed by 12 years of income of $11,500.
d. An outlay of $36,423 followed by receipts of $8,900 for six years.