Problem
The Engineering Economist is a quarterly journal that costs $20 for 1 year, $38 for 2 years, or $56 for 3 years.
(a) What is the IRR for subscribing for 2 years rather than for 1 year at a time?
(b) What is the IRR for subscribing for 3 years rather than for 1 year at a time?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.