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Management of Great Flights, Inc., an aviation firm, is considering

purchasing three aircraft for a total cost of $123,007,523. The company would lease the aircraft to an airline. Cash flows from the proposed leases are shown in the following table.


Years
Cash Flow
1-4. $17,625,000
5-7. 54,000,000
8-10. 60,000,000


What is the IRR of this project? (Round answer to 2 decimal places, e.g. 15.25%.)

14.6 - A portfolio has exposure to the two-year interest rate and

the five-year interest rate. A one-basis-point increase in the two-year rate causes the  value of the portfolio to inrease in value by $10,000. A one-basis-point increase in the five-year rate causes the value of the portfolio to decrease by $8,000. The standard deviation per day of the two-year rate and that of the five-year rate are 7 and 8 basis points, respectively, and the correlation  between the two rates is 0.8. What is the portfolio's expected shortfall when the confidence level is 98% and the time horizon is five days?