= 1. Suppose Palmer Properties is considering investing $8 million today (i.e., Co = -8,000,000) on a new project that is expected to last for 10 years. The project is expected to generate annual cash flows of C1 = -600,000; C2 = 1,200,000, C3 = 1,500,000 and then $2,000,000 for period C4 through C10. If the discount rate is 11% and management's payback period cutoff is 6 years: = (a) What is the payback period for the project? Show your work (b) What is the net present value of the project ? Show your work (c) What is the internal rate of return on the project ? Show your work (d) Under which method(s) above should the company accept the project (applying the acceptance rules)? Explain