NPV and IRRBenson Designs has prepared the following estimates for a long-term project it is considering. The initial investment is $29 comma 510,

and the project is expected to yield after-tax cash inflows of $5 comma 000 per year for 9 years. The firm has a cost of capital of 8%.

a.Determine the net present value (NPV) for the project.

b.Determine the internal rate of return (IRR) for the project.

c.Would you recommend that the firm accept or reject the project?