Paradise Island Company is considering adding a new dock to its marina facilities to accommodate larger yachts. The facilities would cost$140,000and would generate$18,200 annuallyin new cash inflows. The expected life of the facilities would beeight years,and there would be no expected salvage value. The firm's cost of capital and discount rate are10 percent.

(a)Calculate the internal rate of return for the proposed improvement (round to the nearest whole percent; ignore tax).

(b)Based on your answer to part (a), should the company build the dock?

(c)How much annual cash inflow would be required for the project to be minimally acceptable?