Ivory Club is considering adding a miniature golf course to its facility. The course would cost $40,000, would be depreciated on a straight-line basis over its 4-year life, and would have a zero salvage value. The estimated income from the golfing fees would be $45,000 a year with $12,000 of that amount being variable cost. The fixed cost would be $5,000. The project will require $4.000 of net working capital, which is recoverable at the end of the project. What is the net present value of this project at a discount rate of 12 percent and a tax rate of 21 percent? O $26.734.16 $30,152.90 $28,412.69 $32.106.67 You are considering an investment for which you require a 12 percent rate of return. The investment will cost $55,000 and produce cash inflows of $10,000 a year for 10 years. Should you accept this project based on its internal rate of return? Why or why not? yes: because the IRR is 12.66 percent no; because the IRR is 11.17 percent no; because the IRR is 12.66 percent yes, because the IRR is 11.17 percent Tan Co is considering a project that will produce cash inflows of $645,000 a year for five years followed by $180,000 a year for the following two years. What is the internal rate of return if the initial cost of the project is $2 million? 16.48 percent 14.18 percent 20.83 percent 18.12 percent