Project NPV and IRR (straight-line depreciation)
A 6 year capital project, code name Jackal, costs $27,695 (year 0). It is expected
to produce the following operating cash flows (revenues minus expenses)
	Year	Operating Cash Flows	Present Value				9%
	0	-27695	-27695
	1	$6,250	5733.945
	2	6,688	5629.156
	3	7,156	5525.745
	4	7,657	5424.412
	5	8,192	5324.238
	6	8,766	5226.879
The jackal project will be depreciated, straight line, over its 6 year life. The corporate
tax rate is 34%, and the required rate of return on the project is 9%
a. What is the project's NPV?
b. What is the project's IRR?
c. Would you recommend taking on this project?
d. How would a reduction in the corporate tax rate to 26% change your answers in parts (a) and (b)?