A U.S company is considering a high-technology project in a foreign country. The estimated economic results for the project (after taxes), in the foreign currency (T-marks), is shown in the following table for the seven-year analysis period being used. The company requires an 18% rate of return in U.S. dollars (after taxes) on any investments in this foreign country.End of Year Cash Flow (T-marks after Taxes)0 -3,600,0001 450,0002 1,500,0003 1,500,0004 1,500,0005 1,500,0006 1,500,0007 1,500,000a. Should the project be approved, based on a PW analysis in U.S. dollars, if the devaluation of the T-mark, relative to the U.S. dollar, is estimated to average 12% per year and the present exchange rate is 20 T-marks per dollar?b. What is the IRR of the project in T-marks?c. Based on your answer to (b), what is the IRR in U.S. dollars?