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Grieg:r Fox Aviation IIIompanj:r is evaluating a proposed capital budgeting project {project Delta} that will require an initial investment of $ Lil-50,0430. Greyr Fox Aviation IZIompanjur has been basing capital budgeting decisions on a project's NW; however, its new CFO wants to start using the IRR method for capital budgeting decisions. The CFO says that the IRR is a better method because peroentages and returns are easier to understand and to oompare to required returns. Grailr Fox Aviation Companv's WACC is 9%, and project Delta has the same risk as the firm's average project. The project is expected to generate the following net cash flows: which of the following is the oorrect calculation of project Yf Cash Fl'' DEltEIE IRE? Year 1 $325r O 5.14% YearE $45D,D G 43?% Year?! $425.D G 4'53D: Year4 $450,0 f] 4.38% If this is an independent project, the IRR method states that the firm should If the project's cost of capital were to increase, how would that affect the IRR? D The IRR would not change. 0 The IRR would decrease. D The IRR would increase