Amalgamated Industries is considering a 4- year project. The project is expected to generate operating cash flows of $11 million, $14 million, $16 million, and $9 million over the four years, respectively. It will require initial capital expenditures of $41 million dollars and an intitial investment in NWC of $24 million. The firm expects to generate a $11 million after tax salvage value from the sale of equipment when the project ends, and it expects to recover 100% of its nwc investments. Assuming the firm requires a return of 10% for projects of this risk level, what is the project's IRR? 8.95% 9.22% 9.41% 9.69% 9.59% Question 4 (10 points) Acme Company is expanding and expects operating cash flows of $40,000 a year for 4 years as a result. This expansion requires $109,000 in new fixed assets. These assets will be worthless at the end of the project. In addition, the project requires a $10,000 investment in net working capital (assume NWC will be recovered at the end of the project). What is the IRR? 16.29%