Irr of uneven cash-flow stream microwave oven programming, Finance Basics

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Irr of uneven cash-flow stream microwave oven programming

Question: (IRR of uneven cash-flow stream) Microwave Oven Programming, Inc. is considering the construction of a new plant. The plant will have an initial cash outlay of $7 million and will produce free cash flows of $3 million at the end of year 1, $4 million at the end of year 2, and $2 million at the end of years 3 through. What is the internal rate of return on this new plant?

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