Question: (IRR of an uneven cash flow stream) Microwave Oven Programming, Inc. is considering the construction of a new plant. The plant will have an

(IRR of an uneven cash flow stream) Microwave Oven Programming, Inc. is considering the construction of a new plant. The plant will have an initial cash outlay of $7.4 million (= - $7.4 million), and will produce cash flows of $2.1 million at the end of year 1, $4.6 million at the end of year 2, and $1.5 million at the end of years 3 through 5. What is the internal rate of return on this new plant? The IRR of the project is %. (Round to two decimal places.)

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