Suppose you are offered $9,800 today but must make the following payments:

Year	Cash Flows ($)
0	$ 9,800
1	?5,300
2	?4,000
3	?3,100
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 15 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 15 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 21 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

$