Use the Following Information to Answer the Question(s)below

question 4

Multiple Choice

Use the following information to answer the question(s) below.
Frank Dewey Esquire from the firm of Dewey,Cheatum,and Howe,has been offered an upfront retainer of $30,000 to provide legal services over the next 12 months to Taggart Transcontinental.In return for this upfront payment,Taggart Transcontinental would have access to 8 hours of legal services from Frank for each of the next 12 months.Frank's normal billable rate is $250 per hour for legal services.
-Assuming that Dewey's cost of capital is 12% EAR,then the IRR of his retainer offer is closest to:

• A)-39.3%.
• B)-3.3%.
• C)20.0%.
• D)39.3%.

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Definitions:

Psychological Process

The internal mental mechanisms and functions that underpin an individual's thoughts, emotions, and behaviors.

Ethical Standards

Principles that guide behavior in the workplace and professional settings, emphasizing honesty, fairness, and integrity.

Violates

To break or fail to comply with a rule or formal agreement.

Ethical Focus

The prioritization of ethical considerations and principles in the decision-making processes and practices of an individual or organization.