Please help with finding internal rate of return, I do not understand. Thank you!

Lou Barfow, a divisional manager for Sage Company, has an opportunity to manufacture and sell one of two new products for a fiveyear period. His annual pay raises are determined by his division's return on investment (ROI), which has exceeded 19% each of the last three years. He has computed the cost and revenue estimates for each product as follows: The company's discount rate is 16%. Click here to view Exhibil 78-1 and Exhibit 78-2, to determine the appropriate discount factor using tobles: Required: 1. Calculate the payback period for each product. 2. Caiculate the net present value for each product. 3. Calculate the internal rate of return for each product. 4. Calculate the profiability index for each product. 5. Calculate the simple rate of return for each product. 6a. For each measure, identify whether Product A or Product B is preferred. 6 b. Based on the simple rate of return, which of the two products shouid Lou's division accept? Required: 1. Calculate the payback period for each product. 2. Calculate the net present value for onch product. 3. Calculate the internal rate of return for each product. 4. Calculate the profitability index for each product. 5. Calculate the simple tate of tetuan for each product. 6a. For each measure, indentify whether Product A or Product B is preferred. 60. Based on the simple rate of return, which of the two products should Lou's division accept? Complete this question by entering your answers in the tabs below, Calculate the intemal rate of return for each product. Note: Pound your percentage answers to 1 decimal place l.e. 0.123 should be considered as 12.3%. Lou Barfow, a divisional manager for Sage Company, has an opportunity to manufacture and sell one of two new products for a fiveyear period. His annual pay raises are determined by his division's return on investment (ROI), which has exceeded 19% each of the last three years. He has computed the cost and revenue estimates for each product as follows: The company's discount rate is 16%. Click here to view Exhibil 78-1 and Exhibit 78-2, to determine the appropriate discount factor using tobles: Required: 1. Calculate the payback period for each product. 2. Caiculate the net present value for each product. 3. Calculate the internal rate of return for each product. 4. Calculate the profiability index for each product. 5. Calculate the simple rate of return for each product. 6a. For each measure, identify whether Product A or Product B is preferred. 6 b. Based on the simple rate of return, which of the two products shouid Lou's division accept? Required: 1. Calculate the payback period for each product. 2. Calculate the net present value for onch product. 3. Calculate the internal rate of return for each product. 4. Calculate the profitability index for each product. 5. Calculate the simple tate of tetuan for each product. 6a. For each measure, indentify whether Product A or Product B is preferred. 60. Based on the simple rate of return, which of the two products should Lou's division accept? Complete this question by entering your answers in the tabs below, Calculate the intemal rate of return for each product. Note: Pound your percentage answers to 1 decimal place l.e. 0.123 should be considered as 12.3%