1. you are evaluating a project that requires an initial investment of $1,000,000.00. During the first three years, such project will provide positive free cash flows of $610,000.00 each year. What is internal rate of return?

2. You are planning to open a restaurant in Brickell. Following the initial investment of $1,092,841, the expected cash flows over the next 5 years are as follows. What is the payback period of this project?

T Cash flows

1 $394,392

2 $282,192

3 $158,587

4 $426,813