In normal situations, TIP would not even consider a marginal project such as this one in the first place. However, hoping that TIP can establish itself as a technology leader in the field, management felt that it was worth outbidding its competitors by providing the lowest bid. Financially, what is the economic worth of outbidding the competitors for this project?

$($a$)$ Compute the values of the i $*$s for this project.

$($b$)$ Assuming a financing rate of $12\%$ and reinvestment rate of $15\%,$ compute the MIRR.

$($c$)$ Make an accept$-$or$-$reject decision on the basis of results of part $($b$).$