All techniques, conflicting rankings Nicholson Roofing Materials, Inc., is considering two mutually exclusive projects, each with an initial investment of $120,000. The company's board of directors has set a 4-year payback requirement and has set its cost of capital at 12%. The cash inflows associated with the two projects are shown in the following table:

Year | Project A | Project B 1 35,000 85,000 2 35,000 60,000 3 35,000 10,000 4 35,000 10,000 5 35,000 10,000 6 35,000 10,000

a. The payback period of project A is 3.43 years. The payback period of project B is 1.58 years.

b.The NPV of project A is $23,899.26. The NPV of project B is $27,938.05.

c. The IRR of project A is ___%. (Round to two decimal places.) The IRR of project B is ___%. (Round to two decimal places.)