Question: (IRR, payback, and calculating missing cash flow) Ace publishing company needs new equipment for a new branch in the region. According to prior estimates, the following positive cash flow will be generated during 5 years:
![405_II.png](https://secure.tutorsglobe.com/CMSImages/405_II.png)
Estimated pay-back period for the project is 3 years. Define the initial cash outflow of the project and calculate IRR.