Professor Wendy Smith the payment arrangement? $($Hint: Find the monthly rate that will yield an effective annual rate of $15\%.)$ What about the NPV rule?

The annual IRR is $\%.($Round to two decimal places.$)$has been offered the following$$ opportunity: A law firm would like to retain her for an upfront payment of $$$$48,000.$ In$$ return, for the next year the firm would have access to eight hours of her time every month. As an alternative payment$$ arrangement, the firm would pay Professor Smith's hourly rate for the eight hours each month. Smiths rate is $$$$535$ per hour and her opportunity cost of capital is $15\%$ per year. What does the IRR rule advise regarding the payment$$ arrangement? $($Hint$$: Find the monthly rate that will yield an effective annual rate of $15\%.)$ What about the NPV$$ rule?

In other words, what is the annual IRR and what is the NPV$?$