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The Titanic Shipbuilding Company has a noncancelable contract tobuild a small cargo vessel. Construction involves a cash outlay of$265,000 at the end of each of the next two years. At the end ofthe third year the company will receive payment of $625,000. Assumethe IRR of this option exceeds the cost of capital.The company can speed up construction by working an extra shift.In this case, there will be a cash outlay of $575,000 at the end ofthe first year, followed by a cash payment of $625,000 at the endof the second year. Use the IRR rule to show the (approximate)range of opportunity costs of capital at which the company shouldwork the extra shift. (Enter your answers as a percentrounded to 2 decimal places. Enter the smallest percentfirst.)The company should work the extra shift if the cost of capitalis between  % and  %