08 You are the Financial Analyst at Wellington Laboratories Ltd., a New Orleans, USA based bulk drugs manufacturer, which is evaluating the following project for manufacturing a new compound. (you may use trial & error or approximate formula for IRR calculation) Year 0 1 2 3 4 5 Cashflow -34,000 16,000 18,000 8,000 12,000 7,000 The required rate of return for the company is 20 percent. a. Calculate the IRR of the project. Should the firm accept the project? Why or why not? b. Calculate the NPV of the project. Should the firm accept the project? Why or why not? [3] [3]