b$)$ Ultimate FM Sdn$.$ Bhd$.$ is bidding on a contract to maintain a residential apartment

complex. The bid price is RM$5\mathrm{.}5$ million. The maintenance period of the project is $2$

years. The client is expected to pay in the first and second years with unequal payments

of RM $4\mathrm{.}0$ million and RM$1\mathrm{.}5$ million. The cost for the current, first and second years are

likely RM $800,000,$ RM $2\mathrm{.}21$ million and RM $2\mathrm{.}5$ million, respectively. Based on this

detail, determine:

i$)$ The internal rate of return $($IRR$)$ for this project by using quadratic equation and plot

suitable graph

ii$)$ Modified Internal Rate of Return $($MIRR$)$ if the financing rate for this project is $6\%$ and

the future value of $11\%$

iii$)$ The decision to bid for the project is worth the effort