Question 9 (1 point) Project Michigan has the following cash flows: YEAR 0 1. 2 CASHFLOW (6,000)_4,500 18000 The IRR (Internal Rate of Return) of the project is: (Approximately) 115% 100% 50% 25% Question 11 (1 point) Given the following information for a project for year-1: Revenues = $125,000 ; Depreciation = $25,000; Operating Costs (Excluding depreciation) = $60,000 ; Tax rate is: 30% Calculate the relevant after-tax cash flow for the project for year -1 $34,800 $40,000 $53,000 $28,000 Question 12 (1 point) Given the following information for a project for year-1: Revenues = $100,000; Depreciation = $15,000; Operating costs (Excluding depreciation) = $55,000 ; &Tax rate is: 21%; Calculate the relevant after-tax cash flow for the project for year-1 $19,800 $23,700 $34,800 $38,700 Question 13 (1 point) Money that a firm has already spent regardless of whether a project is taken is called: sunk cost fixed cost initial cost opportunity cost