For Questions 20-22 use the following set of cash flows: Initial investment = $1,300,000 X11: 140,000 Yr 2: 150,000 Yr 3: 155,000 Yr 4: 175,000 Yt5: 170,000 Sale of property occurs at the end of Yt5 for a price of $1,875,000 20) What is the IRR of this investment? a. 16.41% b. 18.11% c. 12.22% d. 17.09% 21) If the hurdle rate for this company is 11.50% I a. There must be a positive IRR b. There must be negative NPV C. The NPV is zero because the IRR is above the hurdle rate d. There must be a positive NPV 22) The NPV of the investment is a. $151,902 b. - $125,678 C. $296,968 d. $357,895