8. Calculate the IRR and NPV for the following cash flows. Assume a 15% discount rate Year Project 1 Project 2 Cash flow Cash flow O -$20,000 -$20,000 1,000 12,000 3,000 15,000 AW 4,000 3,000 12,000 4,000 15,000 1,000 9. If your tenant pays you rent of $24,000 a year for 10 years, what is the present value of the series of payments discounted at 10% annually? 10. You are going to invest $300,000 in a real estate investment project that generates the following cash flows. Year 1 2 3 4 5 Cash flow 100,000 100,000 100,000 100,000 100,000 Assuming an 11% discount rate, what is the NPV of this project? What is the IRR