An oil$-$drilling company must choose between two mutually exclusive extraction projects, and each requires an initial outlay at $t=0$ of $$12$

million. Under Plan A$,$ all the oil would be extracted in $1$ year, producing a cash flow at $t=1$ of $$14\mathrm{.}88$ million. Under Plan $B,$ cash flows wol

be $$2\mathrm{.}2034$ million per year for $20$ years. The firm's WACC is $11\mathrm{.}6\%.$

a$.$ Construct NPV profiles for Plans A and B$.$ Enter your answers in millions. For example, an answer of $$10,550,000$ should be entered as $1$

If an amount is zero, enter $"0".$ Negative values, if any, should be indicated by a minus sign. Do not round intermediate calculations. Rou

your answers to two decimal places.

Discount Rate

NPV Plan B

million

million

million

million

million

Identify each project's IRR. Do not round intermediate calculations. Round your answers to two decimal places.

Project A:

$\%$

Project B:

$\%$

Determine the crossover rate. Approximate your answer to the nearest whole number.