8. A project has an internal rate of return of 9%. Which of the following is true regarding the net present value (NPV) of the project? A) NPV is positive at a discount rate of 10% B) NPV is negative at a discount rate of 11% C) NPV is negative at a discount rate of 8% D) NPV is positive at a discount rate of 9% 9. An ordinary annuity has a present value of $62,890 when valued at a rate of 5.5%. What would be the present value if it were an annuity due? A) $59,611.37 B) $66,348.95 C) $69,998.14 D) cannot be determined without additional information 10. Suppose you want to buy a perpetuity today that pays $2,160 at the end of each year with the first payment being made one year from today. If your required rate of return is 4.3%, what is the most you should pay for the perpetuity? A) $49,486.87 B) $50,978.24 C) $50,232.56 D) cannot be determined without knowing the number of payments