QUESTION 1 a. Philip Itd is considering a project costing N80,000. The project is expected to generate annual cash benefits of N50,000 per anum for 5 yrs before depreciation. Calculate the IRR of the project, should the project be accepted if the company's cost of capital is 20%. b. Considering the fact that Philip is new to the Business project line, he requires guidance as to the stages of project life cycle. Briefly identify and explain the various stages of a project's life cycle. c. As a project evaluation analyst, expatiate the various factors that would affect the location of Philip's project of choice