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116. The Chandler Group wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking up". As a result, the cemetery project will provide a net cash inflow of $57,000 for the firm during the first year, and the cash flows are projected to grow at a rate of 7 percent per year forever. The project requires an initial investment of $759,000. The firm requires a 14 percent return on such undertakings. The company is somewhat unsure about the assumption of a 7 percent growth rate in its cash flows. At what constant rate of growth would the company just break even? A. 4.48 percent B. 5.29 percent C. 5.61 percent D. 6.49 percent E. 6.75 percent The minimum growth rate is the IRR as that is the rate that produces a zero NPV. 99. Rosa's Designer Gowns creates exquisite gowns for special occasions on a prepaid basis only. The required return is 8 percent. Rosa has estimated the cash flows for one gown as follows. Should Rosa sell this gown at the price she is currently considering based on the estimated internal rate of return (IRR)? Year Cash Flow $165,000 0 1 -$190,000 A. Rosa should sell the gown for $155,000. B. Rose can sell the gown for as little as $153,819 and still earn her required return. C. The gown must be sold for a minimum price of $175,926 if Rosa is to earn her required return. D. The IRR decision rule cannot be applied to this project. E. Insufficient information is provided to make a decision based on IRR