1. DAK Inc. is considering two projects. Assuming that Projects M&M and KitKat are mutually exclusive, what would be the correct decision using the IRR rule if each project has the same WACC of 4%?

   Project	IRR	Payback Period
   M&M	4.66%	3.6 years
   KitKat	4.33%	4.1 years

   	a.	Reject both projects
   	b.	Accept only M&M project.
   	c.	Accept both projects
   	d.	Accept only KitKat project.
   	e.	Additional information needed.