Please use the following information to answer the next 5 questions: Winnifred le Pooler is considering acquiring Smoothie Land and using the company to produce and sell her delicious honey-based smoothies. Winnifred typically uses an 8% discount rate on her investments, and she is considering paying $600,000 for Smoothie Land. She expects Smoothie Land to make net cash inflows of $225,000 in the first year, $250,000 in the second year, and $200,000 each year for the next 3 years. After the third year, Winnifred will stop making smoothies and the project will have no residual value. 21. Say each year Winnifred expects average revenues of $500,000, average operating expenses of $250,000, and $20,000 in other expenses (gains/losses on selling equipment, income tax expense, etc...). What would be Winnifred's accounting rate of return if she acquires Smoothie Land? a. 0.83 b. 0.38 c. 0.42 d. None of the above 22. What's the payback period of this project? a. 3 years b. 2.63 years c. 0.63 years d. 2 years 23. Let's say instead that Winnifred will experience cash flows of $220,000 in all 5 years. What is the payback period in this case? a. 2 years b. 2.73 years c. 3 years d. None of the above 24. Let's say instead that Winnifred will experience cash flows of $220,000 in all 5 years and can sell Smoothie Land for $450,000 at the end of the 5 years. What is the NPV of the project, in this case, rounded to the nearest dollar? a. $1,184,657 b. $1,184,657 c. $584,657 d. $584,657 25. True or False: Winnifred should accept the project and buy Smoothie Land, based on the question above. a. True b. False