Questions B4 and B5 are based on the following information A project has an initial outlay of $50,000 and its expected net cash flows are $12,000 per year for the next eight years. The project is evaluated using a required rate of return of 12% p.a. B4. 12000 The project's net present value is closest to: - - Jo con (1+0.12) 78 a) $40,433 b) -$9.612. c) $9,612 d) $40,433 B5. The project's internal rate of return is closest to: a) 9.5%. b) 11.3% c) 14.6% d) 17.3%