4. Recall Charles Edouard Fromage Enterprises from NPV and Payback notes. Project requires an initial cash outlay of $50 million that will generate after-tax cash flows of $18 million in year 1, $22...

4. Recall Charles Edouard Fromage Enterprises from NPV and Payback notes. Project requires an initial cash outlay of $50 million that will generate after-tax cash flows of $18 million in year 1, $22 million in year 2, $25 million in year 3, $30 million in year 4, and $32 million in year 5.  Calculate the Internal Rate of Return of this project. Charles E. Fromage has a required return of 8%. Should Fromage expand?