Oak Enterprises accepts projects earning more than the firm's 11% cost of capital. Oak is currently considering a 13-year project that provides annual cash inflows of $40,000and requires an initial investment of $347,400. (Note: All amounts are after taxes.)

a.Determine the IRR of this project. The projects IRR is ____?

Is it acceptable? Yes or no

b.Assuming that the cash inflows continue to be $40,000 per year, the number of additional years the flows would have to continue to make the project acceptable at the 11% discount rate is ___? Additional years.

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