What shape represents a yield curve during normal times (not an inverted yield curve).

		Upward sloping
		Downward sloping
		Inverted U-shaped curve
		U-shaped curve

Acme is considering developing an office building and selling it in the future.

They forecast:

At year 0 it will cost them $500,000 to buy the land

At year 1 it will cost them $600,000 to develop

At year 2 it will cost them $700,000 to develop

At year 3 they will sell it for $2,500,000

Find IRR of this project.

		18.40%
		15.60%
		21.30%
		14.60%