please answer letter B only

A. We have the following information. We are investing in a bookbinder, which will enable us to raise our sales $10 million. This will naturally increase our AR by 20% and our inventory by 25%, while our accounts payable by 15%. The bookbinder will have a useful life of 10 years. We can charge depreciation at 10% annually. Operating expenses are 50% of sales. Additionally, we need to train four workers in the use of the new binder, and that will cost the company $100,000 in the beginning. Financial charges are $.5 million annually, and the tax rates are 35%. We sell the bookbinder for $300,000 at the end of the 10 year period. What is the NPV of this investment, if we assume that the COC of the firm is 9%? B. The price of the 6% 20 year bonds of WP is $1100. It has issued 500 bonds to investors, and 10,000 common shares. We know that the 10 year bond rate is .03, the return in the market has been 11%, and the fluctuation in the price of WP is 20% less than the stock market. If the growth rate of the profit and the dividends of WP is 4%, while the tax rate is 30%and WP pays $5 dividends per share. Derive the COC of WP. C. We are investing in a proiect but are not sure, which one to choose. The one costs $9 million has net cash flows of million annually and lasts for 7 years. The other costs $14 million and has net cash flows of $3 million annually and lasts the same period of time. The COC is 12%. Which one should we invest in among the two, since we only can afford $14 million? We are told by our boss that we have to use the IRR to do the analysis