Your firm is considering an investment that will cost $1.5 million today. The project will produce cash flows of $350,000 in year 1, $390,000 in years 2 through 4, and $450,000 in year 5

(vi) Using IRR and NPV criterion, comment if the project should be accepted or rejected at the following required rates of return: (a) 7% (b) 8% (c) 10% (d) 12%