Suppose you are offered $8,800 today but must make the following payments:

Year	Cash Flows ($)
0	$ 8,800
1	4,800
2	3,500
3	2,600
4	1,400

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 13 percent, should you accept this offer?

	Reject
	Accept

c.

If the appropriate discount rate is 25 percent, should you accept this offer?

	Reject
	Accept

d-1.	What is the NPV of the offer if the appropriate discount rate is 13 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 25 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

$