An oil-drilling company must choose between two mutually exclusive extraction projects, and each costs $12.8 million. Under Plan A, all the oil would be extracted in 1 year, producing a cash flow at t = 1 of $15.36 million. Under Plan B, cash flows would be $2.2744 million per year for 20 years. The firm's WACC is 11.1%.

1. Construct NPV profiles for Plans A and B. Round your answers to two decimal places. Do not round your intermediate calculations. Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10.55. If an amount is zero enter "0". Negative value should be indicated by a minus sign.

Discount Rate NPV Plan A NPV Plan B

0%$ million$ million

5% million million

10% million million

12% million million

15% million million

17% million million

20% million million

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

Project A% =

Project B% =

1. Find the crossover rate. Round your answer to two decimal places. Do not round your intermediate calculations.