14) Your company is considering introducing a new product that will have net returns of ( 5 marks - 16.3 IRR CPT) $24,000 at the end of years 1,2,3 and 4 $32,000 at the end of years 5,6,7 and 8 $39,000 at the end of years 9 and 10 The new product will require an immediate cash outlay of $103,000 for machinery with additional outlays of $10,000 in 3 years and $20,000 in 8 years. Find the rate of return (IRR), compounded annually, on the project. 15) Scotty buys a retirement condo for $900,000 and has taken out a 25-year mortgage with monthly payments. ( 6 marks total-CH 14) 15a) If he locks in an interest rate of 3% compounded semi-annually for the first 6 years, how large are the payments? 15b) How much is still owing (principle outstanding) after 4 years? 15c) After the original 6 years, the interest rate changes to 7% compounded semiannually. How much will the new monthly payments be, given the mortgage has (already) been paid down for 4 years with those payments calculated in part " a