Bales Limited is considering investing in two capital investment projects The expected capital expenditure and its related cash flows is given in the table below Your company considers its cost of capital to be 13%. For Project B, assessed as the riskier project oi the two a risk-adjusted cost of capital of 15% is considered appropriate Base rate is presently 5% and the company pays a margin of 1%. giving an all in borrowing rate of 6% Inflation is presently 3% Assess the two projects using the investment appraisal technique of internal rate of return (IRR). State which project you would recommend to your board and explain in detail your reasons