This is ONE, multi-step question. Please show all steps and specify which part of the problem is being answered. If using excel, please list all steps/ formulas. (screenshots are also helpful!)

Question #2. Capital Budgeting 1. Determine the IRR on the following projects: (Hint: ordinary annuity). (a) Initial outlay of $35,000 with an after-tax cash flow at the end of the year of $5,836 for seven years (b) Initial outlay of $350,000 with an after-tax cash flow at the end of the year of $70,000 for seven years (c) Initial outlay of $3,500 with an after-tax cash flow at the end of the year of $1,500 for three years 2. Tinker Tools, Inc. is considering a project with the following cash flows. Calculate the MIRR of the project assuming a reinvestment (discount) rate of 8%. Year 0 1 Cash Flows ($70,000) $55,000 ($40,000) $60,000 $100,000 2 3 4