Net present value. Lepton Industries has a project with the following projected cash flows: a. Using a discount rate of 11% for this project and the NPV model, determine whether the company should accept or reject this project. b. Should the company accept or reject it using a discount rate of 13% ? c. Should the company accept or reject it using a discount rate of 22% ? Initial cost: $465,000 Cash flow year one: $120,000 Cash flow year two: $230,000 Cash flow year three: $185,000 Cash flow year four: $120,000