Ibez Company is considering a project that requires an initial investment of $97,200 and will generate net cash flows of $16,300 per year for 7 years. Ibez requires a return of 8% on its investments. The present value factor of an annuity for 7 years at 8% is 5.2064. a. Compute the net present value of the project. b. Determine whether the project should be accepted or rejected on the basis of net present value.