1. Project Delta has the following cash flows: CF 0 $1,000,000 CF 1 $100,000 CF 2 $500,000 CF 3 $500,000 CF 4 $30,000 If this project has a required rate of return of 22%, will management accept or reject the project?

   	a.	Management would reject the project because the project has a NPV of $293,206.
   	b.	Management would reject the project because the project has a NPV of $234,398.
   	c.	Management would reject the project because the project has a NPV of $649,550.
   	d.	Management would reject the project because the project has a NPV of $293,206.