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A hot - dog stand in Deep Ellum costs $ 7 K to implement and is expected to generate a $ 9 . 6 K

A hot-dog stand in Deep Ellum costs $7K to implement and is expected to generate a $9.6K cash flow at t=1. A taco stand costs $10K to implement and is expected to generate a $13.5K cash flow at t=1. These are fairly risky projects, so use 20% as the appropriate required return. Calculate NPV and IRR for each project. Choose between the two projects, if youre allowed to only invest in one of them.

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