11. An investment project has an initial cost of $1,500,000. The present value of expected future cash inflows discounted at 16% is $1,675,000. The IRR of the investment is Question 20 options: A) less than 16%. B) equal to 16%. C) greater than 16%. D) less than or equal to 16%.

12. To calculate net present value, find the present value of the expected future cash inflows discounted at the appropriate discount rate, and subtract

A)	the payback period.

B)	the sum of the years digits.

C)	the initial cost of the project.

D)	the burn rate.