Johnson & johnson delegates to its subsidiaries a great deal of authority to respond to local conditions. many subsidiaries have their own manufacturing, marketing, research, and human resource functions. this value chain configuration illustrates the strategy.

a) transnational
b) global
c) localization
d) international

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