Bruin, Incorporated, has identified the following two mutually exclusive projects:

Year	Cash Flow (A)	Cash Flow (B)
0	$ 28,900	$ 28,900
1	14,300	4,250
2	12,200	9,750
3	9,150	15,100
4	5,050	16,700

a-1.	What is the IRR for each of these projects? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

a-2.	Using the IRR decision rule, which project should the company accept?
	multiple choice 1 Project A Project B

a-3.	Is this decision necessarily correct?
	multiple choice 2 Yes No

b-1.	If the required return is 10 percent, what is the NPV for each of these projects? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

b-2.	Which project will the company choose if it applies the NPV decision rule?
	multiple choice 3 Project A Project B

c.	At what discount rate would the company be indifferent between these two projects? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)