Question: Current Attempt in Progress Cullumber, Inc., a resort management company, is refurbishing one of its hotels at a cost of $7,117,580. Management expects that

Current Attempt in Progress Cullumber, Inc., a resort management company, is refurbishing

Current Attempt in Progress Cullumber, Inc., a resort management company, is refurbishing one of its hotels at a cost of $7,117,580. Management expects that t will lead to additional cash flows of $1,640,000 for the next six years. What is the IRR of this project? If the appropriate cost of capit is 12 percent, should Cullumber go ahead with this project? (Round answer to 2 decimal places, e.g. 5.25%.) The IRR of this project is The firm should the project eTextbook and Media %

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