Hill Company invested $100,000 in a two-year project. The cash flow was P40,000 for the first year. Assuming that the internal rate of return was exactly 12%, what was the cash flow for the second year of the project? a. P51,247. b. P60,000. c. P64,284. d. P80,652. The Faker Company purchased a piece of equipment with the following expected results: Useful life ................... 7 years Yearly net cash inflow ........ $50,000 Salvage value ................. 0 Internal rate of return ....... 20% Discount rate ................. 16% The initial cost of the equipment was: a. $300,100. b. $180,250 c. $190,600. d. Cannot be determined from the information given.