(8) Matt is analyzing two mutually exclusive projects of similar size. Both projects have 5-year lives. Project A has an NPV of $18,389, a payback period of 2.38 years, an IRR of 15.9 percent, and a discount rate of 13.6 percent. Project B has an NPV of $19,748, a payback period of 2.69 years, an IRR of 13.4 percent, and a discount rate of 12.8 percent. He can afford to fund either project, but not both. Matt should accept: (1) A. Project A because of its payback period. B. Project B based on its NPV. C. Both projects as they both have positive NPVs. D. Project A because of its IRR. (11) If a stock pays a constant annual dividend then the stock can be valued using the: (1) A. perpetuity present value formula. B. present value of an annuity due formula. C. present value of an ordinary annuity formula. D. fixed coupon bond present value formula