Your company is investigating a possible new project, Project X, which would affect corporate cash flow as follows: Cash flows ($000) without project X 0 1 2 3 4 5 170 185 195 200 203 210 Cash flows ($000) with project X 0 1 2 3 4 5 120 185 200 208 212 220 A. B. What are the incremental cash flows associated with undertaking Project X? What is the NPV of Project X under a flat term structure of 8 per cent, compounded annually? Should the company take the project? Without further calculation, determine whether the IRR for Project X is higher or lower than the hurdle rate. (Hint: Use part b.) C. D. E. Why might a flat rate structure be unrealistic