$290 $290 $290 $290 $290 i. 1 2 3 4 5 End of Year $1,050 $290 $290 $290 $290 $290 4 ii. 5 6 7 8 9 End of Year $1,050 $1,740 $1,740 $1.740 S1,740 $1,740 4 ii. 5 6 7 8 9 End of Year $6,300

Extracted text: $290 $290 $290 $290 $290 i. 1 2 3 4 5 End of Year $1,050 $290 $290 $290 $290 $290 4 ii. 5 6 7 8 9 End of Year $1,050 $1,740 $1,740 $1.740 S1,740 $1,740 4 ii. 5 6 7 8 9 End of Year $6,300


Extracted text: a. Calculate the IRR for each of the three cash-flow diagrams that follow. Use EOY zero for (i) and EOY four for (ii) and (ii) as the reference points in time. What can you conclude about "reference year shift" and "proportionality" issues of the IRR method?