Question 9: Great news! Your publisher wants to pay you a $600,000 advance on your new
book. The book must be finished in 3 years and you'll need to quit your current job which pays
you a $250,000 annual salary. Using a discount rate of 9%, calculate the following:
(1) What is the NPV of this opportunity? Should you take the deal?
(2) What is the IRR?
(3) How do you interpret IRR in this case?