Professor Wendy Sms been offered the following opportunity Alawom would like to retain her for andront payment of $60,000. In retum, for the next year the firm would love to sight 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 States $550 per hour and her opportunity cost of capital is 15% per year What does the IRR rule advise garding the payment rangement (Hint Find the monthly rate that wild an effective anal rate of 15 What about the NPV The IRR IS 11364 % (Round to two decimal places Professor Wendy Smith has been offered the following opportunity. A low firm would like to retain her for an upfront payment of $50,000. In retum, for the next year the firm would have access to hours of her time every month. As an alternative payment arrangement, the firm would pay Professor Smith's hourly rate for the eight hours enth month Smith's rate is $550 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 elective annual rate of 15%) What about the NPV rule The IRR is 11.364 (Round to two decimal places)