A company has the opportunity to take over a redevelopment project in an industrial area of a city. An immediate investment is required for $1,500,000, and it must raze the existing buildings over a three-year period and, at the end of the third year, invest another $2000 for new construction. It will collect all revenues and pay all costs for a period of 9 years, at which time the entire project, and properties thereon, will revert to the city. The net cash flows are estimated to be as follows: (MARR = 10%) Make your decision whether to accept the project or not with IRR