D Question 27 Suppose you want to extend the lobby section of your business where your customers can mingle and get to see the production process of your business. Since research has shown that such an addition can increase business by 20%-50%, you decided to under take the expansion project with a $290,000 initial investment. If the project is expected to generate the following cashflow over the next 5 years and your required rate of return is 12% then what is the IRR of the project? (Round your answer to two decimal point) Using IRR as the decision criteria, should you undertake the project? Why or Why not? End of 1st year. $30,000 End of 2nd year: $75,000 End of 3rd year: $90,000 End of 4th year. $110,000 End of 5th year. $115,000 Edit View Insert Format Tools Table