Consider the following projects. Assume the Cost of Capital is 9.00%. Annual Cash Flows Smith Jones ($155,000) ($180,000) 60,000 40,000 50,000 60,000 50,000 60,000 50,000 60,000 40,000 80,000 a. Calculate NPV and IRR for each project. b. If the projects are independent, which project(s), if any, would you accept? Why? c. If the projects are mutually exclusive, which project(s), if any, would you accept? Why