2. Consider a capital expendeture project to purchase and install nde equipment with an initial cash outlay of $17000. The project is expectef to generate net after tax flows each year of $2,900 for ten years and at the end of the project a one time after tax cash flow of $1,600 id expected. The firm has a weighted average cost of capital of 11 percent and required a 3 year payback on projects of this type. Determine whether this project should be accepted to rejected using IRR

a. accept since IRR is 9.56 percent and its greater than 0 percent

b. accept since IRR is 10.54 percent and is grester than 0 percent

c. reject dince IRR is 10.54 percent and is less than 11 percent

d. reject since irr is 9.56 percent and is less than 11 percent

e. reject since IRR is -9.56 percent and is less than 0 percent