Simpson, Inc. is considering a five-year project that has an initial after-tax outlay or after-tax cost of $48,000. The respective future cash inflows from its project for years 1, 2, 3, 4 and 5 are: $15,000, $25,000, $35,000, $45,000 and -$70,000 (note that year 5 cash flow is negative). The appropriate discount rate for this project is 9%. Should Simpson accept the project? a. Yes because the NPV is positive b. No because the NPV is negative c. No because the IRR is less than 9% d. No because the IRR is greater than 9% e. It cannot be determined