Assume that you completed the following analysis to compute IRR using Excel for a proposed investment. Triali (%) PW (5) $200,000.00 $100,000.00 -10% 5% $0.00 0% ($100,000.00) 10% 159 Accumulated Year Net Cash Flow Cash Flow 0 -1,750,000 - 1750000 1 -650,000 -2,400,000 2 1,600,000 800000 3 900,000 100000 4 900,000 1000000 5 1,500,000 2500000 6 800,000 3300000 7 -1,750,000 1550000 8 -1,500,000 50000 9 2,000,000 2050000 ? 10 -2,000,000 50000 3 1 Guess -1% IRR -0.878% Gues 15% IRR 15.669% 3 ! -4% -3% -2% - 1% 0% 1% 2% 3% 4% 5% 6% 7% 8% ($200 poooo) PW ($) ($280,894.53) ($170,846.23) ($80,692.66) ($7,832.70) $50,000.00 $94,781.80 $128,237.52 $151,873.55 $167,006.37 $174,787.13 $176,222.97 $172,195.35 $163,476.08 $150,741.07 $134,582.40 $115,518.71 $94,004.34 $70,437.23 $45,165.83 $18,495.12 (9308.07) (67408.39) ($300,000.00) (S400,000.00) 9% 3 10% 11% 12% 13% 14% 15% 16.00% 18.00% Assuming that MARR =15%, which of the following best describes the analysis. a) Discard both the -0.878% and the 15.669% since the analysis is inconclusive, and therefore, neither is considered valid. b) Report IRR=-0.878% to the management team as it is the lower (and therefore the more conservative) and a valid measure for this investment. c) Report IRR=15.669% to the management team as it is the valid measure for this investment. d) Report both measures of IRR to the management team as both are valid measures