Edelman Engineering plans to include two pieces of equipment - a forklift and a pulley system - in the current year's capital budget. They are independent projects. The truck will cost $ 17,100, and the pulley system will cost $ 22,430. The cost of capital is 14%. Here are the after-tax cash flows, including depreciation:

Year	Forklift	Pulley system
1	5,100	7,500
2	5,100	7,500
3	5,100	7,500
4	5,100	7,500
5	5,100	7,500

Calculate the internal rate of return, net present value, and modified internal rate of return for the projects and indicate the correct accept / reject decision for each.

Reference book:

Corporate Finance: A Focused Approach by Ehrhardt and Brigham Second Edition