Blake owns an annuity that pays $8,000 per year for the next 9 years. He wants to purchase a $150,000 luxury car with the money from investing the annuity payments at the end of the 9 year period. What annual interest rate does Blake need to achieve to afford his purchase? 52.00% 38.50% - 12.61% Answer does not exist 17.59% Claude is looking to purchase of an investment with a three-year life. One potential option promises a payment of $7,500 next year and the payments are expected to grow at 10% per year for the subsequent two years. If Claude's required return on the investment is 7.5%, what should he be willing to pay for this investment? O $21,420.76 O $18,651.39 O $24,825.00 $19,983.15 BisonWorks Ranch Accessories is looking to expand. It has two expansion options, it can offer western work clothing or rodeo gear, but not both. The rodeo gear is more expensive and difficult to stock, but would also produce higher cash flows. Which investment decision criteria should Bison Works use to evaluate this choice? Neither NPV nor IRR is appropriate IRR Either NPV or IRR is appropriate NPV