Suppose you are offered $8,900 today but must make the following payments:

Year	Cash Flows ($)
0	$ 8,900
1	4,600
2	3,300
3	2,400
4	1,700

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

IRR

%

b.	If the appropriate discount rate is 11 percent, should you accept this offer?
	multiple choice 1 Accept Reject

c.	If the appropriate discount rate is 23 percent, should you accept this offer?
	multiple choice 2 Reject Accept

d-1.	What is the NPV of the offer if the appropriate discount rate is 11 percent? (Negative amount 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 23 percent?