?IRR, investment? life, and cash inflows???Oak Enterprises accepts projects earning more than the? firm's 12?% cost of capital. Oak is currently considering a 12?-year project that provides annual cash inflows of ?$30,000 and requires an initial investment of ?$242,800. ? (?Note: All amounts are after? taxes.)

a.??Determine the IRR of this project. Is it? acceptable?

b.??Assuming that the cash inflows continue to be ?$30,000 per? year, how many additional years would the flows have to continue to make the project acceptable? (that is, to make it have an IRR of 12?%)?

c.??With the given? life, initial? investment, and cost of? capital, what is the minimum annual cash inflow that the firm should? accept?