Question: (IRR calculation) Determine the IRR on the following projects:

a. An initial outlay of $10,000 resulting in a free cash flow of $1,993 at the end of each year for the next 10 years

b. An initial outlay of $10,000 resulting in a free cash flow of $2,054 at the end of each year for the next 20 years

c. An initial outlay of $10,000 resulting in a free cash flow of $1,193 at the end of each year for the next 12 years

d. An initial outlay of $10,000 resulting in a free cash flow of $2,843 at the end of each year for the next 5 years