Question 1 (1 point) You are evaluating a project with the following cashflows. Year 0: - \$1,000; Year 1: \$400; Year 2: \$200; Year 3: \$300. Which of the following statements is not true for the project? The discount rate is 10%. The project never pays back The discounted payback period for the project is less than the payback period The project has a negative NPV The project has a negative IRR The project has a PI of less than 1 Question 2 (1 point) A project produces annual net income of $14,600,$18,700, and $23,500 over three years, respectively. The initial cost of the project is $310,800. This cost is depreciated to zero using straight-line depreciation. What is the average accounting rate of return if the required discount rate is 9% ? 12.18% 14.29% 15.63% 17.67% 18.28%