take x= 2

4. Consider the following project cash flows [15] 1 2 3 4 5 Year CF 0 -20x,000 -40,000 -40,000 8x,000 -50,000 109,000 a. What is the NPV of the project considering the cost of capital is (7 + x)%? b. What is the IRR of the project? c. When does IRR and NPV lead to different project recommendations