Suppose you are offered $8,100 today but must make the following payments:

Year	Cash Flows ($)
0	$ 8,100
1	4,400
2	3,100
3	2,200
4	1,500

a.	What is the IRR of this offer? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

IRR

%

b.

If the appropriate discount rate is 14 percent, should you accept this offer?

	Accept
	Reject

c.

If the appropriate discount rate is 21 percent, should you accept this offer?

	Accept
	Reject

d-1.	What is the NPV of the offer if the appropriate discount rate is 14 percent? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

NPV

$

d-2.	What is the NPV of the offer if the appropriate discount rate is 21 percent? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

NPV

$