Briefly explain why IRR is lower when comparing project E with project F? Project A B C D E F Net Net Net Net Net Net Year Cashflow Cashflow Cashflow Cashflow Cashflow Cashflow 0 -500 -500 -1000 -1000 -1500 -1000 1 200 120 400 600 600 500 2 200 160 400 500 600 500 3 200 200 400 400 600 500 4 200 240 400 300 600 500 5 200 280 400 200 600 500 Total Net Cashflow 500 500 1000 1000 1500 1500 (US$M) MARR 10% 10% 10% 10% 10% 10% NPV (US$M) 258.2 229.4 516.3 588.3 774.5 895.4 IRR 28.6% 24.2% 28.6% 36.1% 28.6% 41.0%