Please include step by step solution with formula. Already have the excel worksheet answer but looking for another solution.

8. A proposed project requires an initial investment of 5 million and a second investment of 3 million at the end of year 2. It will generate of return of 2 million at the end of three years and a return of 4 million at the end of years 5 and 6. Calculate the project's internal rate of return. year cash flow 3,000,000 3.000.000 2.000.000 -ntos 4,000,000 4,000,000 5.40% IRR =