Catriona plans to open a retail centre in a storefront. The equipment will cost $155,000. Catriona expects the after-tax cash inflows to be $33,000 annually for eight years, after which she plans to scrap the equipment and retire. Assume the required return is 14%. a) What is the project's IRR? (0.5 marks) b) Should it be accepted? Explain why or why not. (1 mark) c) Identify and explain two situations in which Net Present Value should be used as a decision rule instead of IRR. (1 mark)