Suppose you are offered a project with the following payments:

Year	Cash Flows
0	$ 9,500
1	4,900
2	3,600
3	2,700
4	2,000

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 12 percent, should you accept this offer?

	Reject
	Accept

c.

If the appropriate discount rate is 22 percent, should you accept this offer?

	Reject
	Accept

d-1.	What is the NPV of the offer if the appropriate discount rate is 12 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 22 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

$