A project that provides annual cash flows of $3,100 for nine years costs $10,400 today.

At a required return of 12 percent, what is the NPV of the project?

At a required return of 12 percent, what is the NPV of the project? Answer: $6,117.57

At a required return of 28 percent, what is the NPV of the project? Answer: $-528.94

At what discount rate would you be indifferent between accepting the project and rejecting it?