Question: A corporation's initial outlay is $1M and the program cash flows are $150,000 in perpetuity. Now you are interested to determine the program's internal rate

A corporation's initial outlay is $1M and the program cash flows are $150,000 in perpetuity. Now you are interested to determine the program's internal rate of return.

Address the following: 1. Write the equation for internal rate of return for this program. 2. Calculate the IRR.

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