Boost Juice is considering opening 10 new franchises in shopping centres around Melbourne. Each franchise is expected to start earning $600,000 of revenue in each quarter of operation, growing by 6% per quarter. Variable operating costs start at 35% of quarterly revenue. After 4 quarters, variable operating costs increase by 0.5% of quarterly revenue. Quarterly, fixed costs perfranchise is 12% of quarterly revenue and starts at the same timeas variable costs. The franchises have a term of 2 years and areexpected to cease operation at the end of the term. At the end ofthe franchises, all staff will be made redundant, costing Boost 60%of final quarter revenue. Setup costs now for each franchise is$1,500,000 each.   45% of Boost's capital is financedthrough equity which has a 6% premium on the 8% p.a. that capitalcreditors earn. Calculate the discount rate, NPV and IRR of thisproject.