1. Determine the net present value for a project that costs $237,000 and would yield after-tax cash flows of $27,000 per year for the first 15 years, $35,000 per year for the next 19 years, and $48,000 per year for the following 8 years. Your firm's cost of capital is 12.00%.

	-$799.55
	-$677.13
	-$949.17
	-$1,252.90
	-$1,366.80

2. Determine the internal rate of return for a project that costs $167,000 and would yield after-tax cash flows of $22,000 per year for the first 5 years, $30,000 per year for the next 5 years, and $43,000 per year for the following 5 years.

	14.94%
	11.97%
	13.38%
	11.51%
	14.19%