Trace Enterprises is considering an investment that will cost $318,000. The investment produces no cash flows for the first year. In the second year, the cash inflow is $47,000. The inflow for the next two years would be $198,000 and $226,000 consecutively before ceasing permanently. i. Use the NPV method to determine if the project should be accepted if Trace requires a 11.5 percent rate of return. (3 marks) ii. Identify the circumstances when the application of the IRR and the NPV are contradictory