Question 10 (1 point) Listen What is the PI of a project that requires an initial investment of $36,000 and pays $10,000 in year 1, $18,000 in year 2, $15,000 in year 3, and $12,000 in year 4? Assume the discount rate is 9 percent and the tax rate is zero. a) 1.05 b) 1.16 c) 1.23 d) 1.38 Question 14 (1 point) Listen A project will cost $50,000 to initiate and will generate real cash flows of $40,000 in each of the next two years. The nominal discount rate has been estimated to be 10 percent per year. Expected inflation is 4 percent over the next two years. What is the NPV of the project? a) $19,421.49 b) $21,573.55 c) $23,573.55 d) $25,496.63