Wichita air balloon tours is considering buying 2 new balloons with an initial cost of $51,206 for both balloons. They estimate cash flows specifically related to the new balloon projects would be $10,624 in 16 months, $15,801 in 16 months, $11,663 in 28 months, $29,386 in 33 months, and 39,123 in 59 months when they sell the balloons. Find the project IRR assuming monthly compounding.

For your consideration:

-Should they accept the project if the cost of capital is [R]%? What if the cost of capital is 12%?

-Find the NPV at [R]% does NPV rule yield the same decision?

Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.

Enter percentage answers as a positive percentage % rounded to 2 decimal places. For example 0.123456 should be enter as: 12.35 (##.##).