1.)

A project has the following cash flows:

Year	Cash Flow
0	$65,800
1	31,800
2	49,700

Required:
(a)	What is the IRR for this project?

2.)

Mahjong, Inc., has identified the following two mutually exclusive projects:

Year	Cash Flow (A)	Cash Flow (B)
0	$36,800	$36,800
1	19,150	6,670
2	14,650	13,170
3	12,150	19,670
4	9,150	23,670

Required:

(a)	What is the IRR for Project A?
	(Click to select) 20.62% 21.9% 21.26% 20.2% 22.32%

(b)	What is the IRR for Project B?
	(Click to select) 21.86% 20.2% 19.78% 20.82% 21.44%

(c)	If the required return is 16 percent, what is the NPV for Project A?
	(Click to select) $3,536.41 $3,330.41 $3,433.41 $3,605.08 $3,261.74

(d)	If the required return is 16 percent, what is the NPV for Project B?
	(Click to select) $4,544.28 $4,411.92 $4,191.32 $4,279.56 $4,632.52

(e)

At what discount rate would the company be indifferent between these two projects (i.e. what is the crossover rate)?

(Click to select) 19.69% 19.1% 20.28% 20.67% 18.71%

3.)

A project that provides annual cash flows of $15,300 for 10 years costs $86,448 today.

Required:
(a)	If the required return is 9 percent, what is the NPV for this project?
	(Click to select) $10,241.75 $11,741.75 $11,154.66 $12,328.84 $-84,938.59

(b)	Determine the IRR for this project.
	(Click to select) 12.6% 12% 11.76% 11.4% 12.24%