$11.$ Break$-$Even Intuition Consider a project with a required return of R percent that costs $I and will last for N years. The project uses straight$-$line depreciation to zero over the $-$year life; there are no salvage value or net working capital requirements.

a$.$ At the accounting break$-$even level of output, what is the IRR of this project? The payback period? The NPV$?$

b$.$ At the cash break$-$even level of output, what is the IRR of this project? The payback period? The NPV$?$

c$.$ At the financial break$-$even level of output, what is the IRR of this project? The payback period? The NPV$?$

use R$,$ I, and N to form a formula for each IRR, Payback period, and NPV