Assuming a firm has unlimited access to funds, what is the proper accept or reject decision when using internal rate of return (IRR)?

What is the net present value of an investment that has an initial cost of $9,000 and will generate annual cash inflows of $7,000 for the next 9 years with the first inflow occurring at the end of year 1? Assume a cost of capital of 3%.

Round your answer to 2 decimal places.

What is the profitability index of a project with an initial investment of $125,000 and a net present value of $92,000? The cost of capital is 13%.

Round your answer to 4 decimal places.

When projects are mutually exclusive, you should choose the project with the: