(a) In using internal rate of return (IRR) for decision-making, what is the decision rule for simple investments when comparing IRR to your minimum acceptable rate of return (MARR)? [2]

(b) You come up with the cash flow in the table below for a 3-year investment project, showing the third year cash-flow uncertainty. If your MARR is 12% what should be the smallest third-year cash flow? [6]

Year	0	1	2	3
Cash flow, $1000	-50	20	22	?

(c) For each of the projects in the table below with an internal rate of return (IRR), determine that IRR. [10]

(d) Identify the simple investments and the non-simple investments. [2]

n	A, $	B, $	C, $
0	-17,000	42,758	-65,500
1	20,000	-18,000	-12,500
2	10,000	18,000	-6,459