Q1. Emaar Properties is evaluating a project in Dubai. The project will create the following cash flows: Year Cash Flow -$750,000 205,000 265,000 346,000 220,000 All cash flows will occur in Dubai and are expressed in dollars. In an attempt to improve its economy, the Dubai's government has declared that all cash flows created by a foreign company are "blocked and must be reinvested with the government for one year. The reinvestment rate for these funds is 4 percent. If Emaar uses an 11 percent required return on this project. a. Describe and calculate the NPV and IRR of the project. b. Is the IRR you calculated the MIRR of the project. Explain why or why not