Exercise $7.$ Enterprise, Inc. is planning to spend $$10$ million on advertising. The company expects this expenditure to result in annual incremental cash flows of $$1\mathrm{.}6$ million in perpetuity. The corporate opportunity cost of capital for this type of project is $12\mathrm{.}5$ percent.

$($a$)$ Calculate the NPV for the planned advertising.

$($b$)$ Calculate the internal rate of return.

$($c$)$ Should the company go forward with the planned advertising?