NewTech has started a new product that has the first cost $500,000. Initial sales will be $50,000 per month, and they will increase by $5000 per month. The market is moving fast, and the product will be closed out in 2 years. What is the new product’s IRR for deciding whether to proceed?

An electric kettle is made out of stainless steel, weighs two pounds (when empty) and is equipped with a heating element that consumes 2 kw of electricity. assuming that the water and the kettle are at the same uniform temperature at any moment of time, calculate the shortest possible time to bring 2 quarts of water from room temperature to the onset of boiling