Question: Evaluate the following project using the internal rate of return (IRR) method, based on an 8% opportunity cost of capital: Initial Cost $9,000 End of

Evaluate the following project using the internal rate of return (IRR) method, based on an 8% opportunity cost of capital:

Initial Cost $9,000
End of Year 1 $4,500
End of Year 2 $5,600

a.reject; because the IRR exceeds the opportunity cost

b.accept; because the IRR exceeds the opportunity cost

c.reject; because the opportunity cost exceeds the IRR

d.accept; because the opportunity cost exceeds the IRR

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