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QUESTION 2INTERNAL RATE OF RETURN Initial investment$100,000,000Year 1$15,000,000Year 2$20,000,000Year 3$10,000,000Year 4$15,000,000Year
QUESTION 2—INTERNAL RATE OF RETURN Initial investment$100,000,000 Year 1$15,000,000 Year 2$20,000,000 Year 3$10,000,000 Year 4$15,000,000 Year 5$20,000,000 Year 6$15,000,000 Year 7$25,000,000 (a) What is the internal rate of return, assuming annual compounding? (b) What is the internal rate of return, based on a semi-annual bond equivalent yield?