Follow the format shown in Exhibit 12B.1 and Exhibit 12B.2 as you complete the requirements below. Each of the following scenarios is independent. Assume that all cash flows are after-tax cash flows. expected cash flows associated with the project follow: expected to be $2,880,000. Required: 1. Calculate the IRR for Cuenca Company. The company's cost of capital is 16%. Round your answer to the nearest percent. % Should the new equipment be purchased? 2. Calculate Kathy Short's IRR. Round your answer to the nearest percent. % Should she acquire the new system? 3. What should be Elmo Enterprises' expected annual cash flow from the plant? Round your answer to the nearest dollar