A new computer system will require an initial outlay of $$20,000,$ but it will increase the firm$$s cash flows by $$4,000$ a year for each of the next eight years.

a$.$ Is the system worth installing if the required rate of return is $9\%?$

b$.$ What if the required return is $14\%?$

c$.$ How high can the discount rate be before you reject the project?