How many IRRs does this project have? Lend me $3,000 at the end of each...
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How many IRRs does this project have?
Lend me $3,000 at the end of each year, for the next three years (i.e., at t=1, 2, 3). At the end of the fourth, fifth, and sixth year, my firm will pay you annually $6,000 (i.e., at t=4, 5, 6). After that, I will need another loan of $1,000 at the end of the seventh and eighth year, to shut down my business (i.e., at t=7, 8).
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