3. Consider the following two projects:

In consideration of NPV what the preferred project is if:

a) The discount rate is less than 26.06%? Project:

b) Which project has the highest IRR? Project:

c) Which project is preferred at a NPV of 16.06 %? Project:

d) Which is the preferred project of the two and for which range of discount rates?

Project: from % to % discount rate

please answer it step by step.