Capital Budgeting (NPV & IRR) Homework 1. A company has been presented with the following investment opportunity: The investment outlay is expected to be $600,000 in Year 0. After that, the project is expected to earn end-of-year after-tax operating cash flows of $100,000 in Year 1, $150,000 in Year 2, $250,000 in Year 3 and $300,000 in Year 4. If your WACC is 9%, what is the NPV and IRR for the project? What happens if the WACC is 11%