A project requires an initial investment of $100,000 and is expected to produce a cash inflow before tax of $26,400 per year for flve years. Company A has substantial accumulated tax losses and is unlikely to pay taxes in the foreseeable future. Company B pays corporate taxes at a rate o 35% and can depreciate he investment or ax purposes using he year S a depreciation schedule Suppose he opportunity cost of capital is 9%. Ignore inflation. a. Calculate project NPV for each company. (Negative answers should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) NPV 2686.79 Company A Company B b-1. What is the IRR of the after-tax cash flows for each company? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) IRR CompanyA Company B $ 10.03 % b-2, what does mparison of the IRRs suggest is the effective corporate tax rate? (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.) Effective tax rate