How to compute the approximate range of IRR? (Question c).

Please write down the calculation process.

18. A capital investment project requires an investment of$450,000. It has an expected life of six years with an annual cash flow of $90,000 received atthe end of each year. The company uses the straight-line method of depreciation with no mid-year convention. Ignore income taxes. Required: a. Compute payback for the project. b. Compute the net present value (NPV) of the project using a 12 percent discount rate c. Compute the IRR (approximate range) for the project d. Would you recommend this project be accepted? Why or why not? 0,000 X4