Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown on the time line below. Depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is 9%.

	0		1		2		3		4
Project A	-1,140		630		395		210		260
Project B	-1,140		230		330		360		710

a. What is Project A's NPV? Round your answer to the nearest cent. Do not round your intermediate calculations.

b. What is Project B's NPV? Round your answer to the nearest cent. Do not round your intermediate calculations.

PART II

Calculate the IRR for Bellinger's with the information below, but with the WACC at 10%.

	0		1		2		3		4
Project A	-1,200		600		400		230		300
Project B	-1,200		410		330		210		740

a. What is Project Delta's IRR? Do not round intermediate calculations. Round your answer to two decimal places.