14. Boogie Company Limited is considering investing in two mutually exclusive projects with the same initial cost of GH\&10,000,000 but different life spans. The cost of capital raised to finance the projects is 15%. Detailed information about future cash flows is shown in Table 1 below. All figures are in thousands of Ghana cedis. i. What is the modified internal rate of return for Project Z ? ii. Briefly discuss two conditions under which there are ranking conflicts between the net present value (NPV) and internal rate of return (IRR) criteria. iii. Will it be rational to compare the NPV of these two projects? Briefly explain the reason for your answer. iv. Based on the replacement chain/common life approach, which of the two projects should be selected? v. What is the equivalent annual annuity (EAA) for Project X and Project Z ? Which project should be selected based on the EAA? vi. The CEO gathers new information that indicates that the beta of Project X was initially underestimated, necessitating a 5% adjustment to the cost of capital to account for risk. What will be the new NPV for Project X