A firm evaluates all of its projects by using the NPV decision rule.

Year	Cash Flow
0	$28,000
1	20,000
2	13,000
3	4,000

Required:
(a)	At a required return of 23 percent, what is the NPV for this project?
	(Click to select) -1,017.48 -997.53 -957.63 -1,047.41 -977.58

(b)	At a required return of 36 percent, what is the NPV for this project?
	(Click to select) -4,581.89 -4,768.91 -4,909.17 -4,488.39 -4,675.4