1. What is the internal rate of return on an investment with the following cash flows?

Year               FCF ($mln)

1                      -87,400

2                      21,600

3                      48,900

4                      28,000

5                      4,170

2. What is the net present value of a project with the following cash flows if the required rate of return is 14 percent?

Year               FCF ($mln)

1                      -33,680

2                      10,796

3                      22,308

4                      4,170

3. What is the net present value of a project that has an initial cash outflow of $18,900 mln and the following cash inflows? The required return is 13.25 percent.

Year               FCF ($mln)

1                      -3,600

2                      4,200

4                      12,500