Question regarding IRR of a small company

Fellow monkeys,

I have a question about a company that I could use some help with. I am trying to find the IRR of a company for years 5,6,and 7. I want to calculate it for each year with and without terminal value. (so there should be 6 calculations total) I have the EBITDA for each year. The question I have is that currently the company is valued at 2MM, but the goal is to get 1MM outside money from a venture. (or angel) Therefore, the projected EBITDA1 for each year is with the 1MM included (so company is 3MM total). How can I get the IRR for both the company in whole (with 3MM) total and the IRR of the outside investment from the venture (1M). Do I just take the IRR of the entire company valued at 3MM and give them a percentage of that, or do I need to do two different calculations?

Also, I'm not sure this would change the question, but some of the 2MM it is valued at now is from outside grants and research, things that cannot be sold now for a profit. (therefore most likely have no salvage value)

Please let me know, and any help would be greatly appreciated. Thanks again.

 
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