Mode Publishing is considering a new printing facility that will involve a large initial outlay and then result in a series of positive cash flows for four years. The estimated cash flows associated with this project are: year 1 cash flow: 810 million/ year 2 cash flow: 350 million/ year 3 cash flow: 280 million/ year 4 cash flow: 450 million
If you know that the project has a regular payback of 2.9 years, what is the project's internal rate of return?