A company is considering two mutually exclusive expansion plans. Plan A requires a $40 million expenditure on a large-scale integrated plant that would provide expected cash flows of $6.4 million per year for 20 years. Plan B requires a $12 million expenditure to build a somewhat less efficient, more labor- intensive plant with expected cash flows of $ 2.72 million per year for 20 years. The firm's WACC is 10%.

a) Calculate each project's NPV and IRR.

b) Graph the NPV profiles for Plan A and Plan B and approximate the crossover rate.

c) Calculate the crossover rate where the two projects' NO/PVs are equal.

d) Why is NPV better than IRR for making capital budgeting decisions that add to shareholder value?

Please show work on excel, thank you