8. Freedom of thought (Pty) Ltd is currently evaluation a project requiring an initial investment of R5 000 000. The project is expected to deliver the following cash flows: Project cash flow Year 1 R1 000 000.00 Year 2 R1 985 000.00 Year 3 R2 608 800.00 Year 4 R590 000.00 Year 5 R150 000.00 Assuming the company has a weighted average cost of capital of 10%, should this project be accepted? a) The company should accept the project because the IRR is 10,1% which is higher than the weighted average cost of capital. b) The company should not accept the project because the IRR of 10,1% is not much higher than the weighted average cost of capital. c) The company should accept the project because the IRR is positive. d) The company should not accept the project because the IRR is negative. e) None of the above 4