Suppose you are offered a project with 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. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

IRR

%

b.

If the appropriate discount rate is 11 percent, should you accept this offer?

	Accept
	Reject

c.

If the appropriate discount rate is 23 percent, should you accept this offer?

	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? (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

$