The engineering design and testing group for Honda Corp. does contract-based work for automobile manufacturers throughout the world. During the last 3 years, the net cash flows for contract payments have varied widely, as shown below, primarily due to a large manufacturer's inability to pay its contract fee:

Year	0	1	2	3
CASH FLOW (was $1,000)	-4000	+1500	+1500	+2000

What is (are) IRR (i*) value(s) using Excel Spreadsheet?

1. 6.45% 2. 7.45% and 20% 3. 42.35% 4. 7.47% 5. None of the above