A firm evaluates all of its projects by applying the NPV decision rule. A project under consideration has the following cash flows:

Year	Cash Flow
0	$	28,000
1		12,000
2		15,000
3		11,000

What is the NPV of the project if the required return is 11 percent?

At a required return of 11 percent, should the firm accept this project?

What is the NPV of the project if the required return is 25 percent?

At a required return of 25 percent, should the firm accept this project?