Assume that at the Walt Disney Company, you are considering two mutually exclusive projects with the cash flows below.

a) At what interest rate would the net present values of these two projects be equal?

b) Which project has a bigger IRR? Solve and explain.

c) Which project would you choose if the required return is 15%? Solve and explain.

d) Which project would you choose if the required return is 20%? Solve and explain.

e) Solve this question using Excel or another spreadsheet software and verify all your answer above. Save the spreadsheet and attach it with your homework submission on Blackboard.

Year	Project Moana	Project Tiana
0	-$320,000	-$300,100
1	145,800	137,150
2	163,300	154,350
3	128,400	120,100
4	100,000	97,000