Exhibit 3-3 Afrm is evaluating two investment proposals. The following data s provided for the two investment alternatives Project 1 Project 2 Intial cash outflow $350m $ 20m IRR 28% NPV(14%) 500m 5200 304 Refer to Exhibe 85. If the two projects are independent which project should the to choose based on the IRR rule? O cannot decide boonuse the hurde rates unknown O project 1 O project 2 both projects Refer to Exhibit 8-3. If the two projects are mutually exclusive, which project should the firm choose? What is the problem that the firm should be concerned with in making this decision? O project 1: project scale O project 2: discount rate O project 1: discount rate O project 2: project scale