Indicate how the following contributed service would be recorded by a private, non-profit organization: A member of the accounting faculty at the local university (specializing in taxes) donates his time to teach senior citizens how to fill out their tax returns. Last year the senior center hired a CPA for the program.

Suppose your firm is considering investing in a project with the cash flows shown as follows, that the required rate of return on projects of this risk class is 10 percent, and that the maximum allowable payback and discounted payback statistics for the project are three and a half and four and a half years, respectively. use the irr decision to evaluate this project; should it be accepted or rejected