Harrison Township is studying a 700-acre site for a new landfill. The new site will save $70,000 in annual operating costs for 10 years, as Harrison currently uses the landfill of a neighboring municipality. Other data are: Purchase price per acre: $550Site preparation costs: $110,000Hurdle rate: 6%Ignore income taxes.Required:A. Use the net-present-value method and determine whether the landfill should be acquired.B. Determine the landfill's approximate internal rate of return.