For Project A, calculate the future value (as of the end of the project, Year 4) of all the cash flows other than the initial outlay assuming they are reinvested at the required return (11%), producing a single future value figure for the project.

9-12. Bruin, Inc., has identified the following two mutually exclusive projects, Project A and Project B: Year Cash Flow (A) Cash Flow (B) 0-$37,500-$37,500 1 $17,300 $5,700 2 $16,200 $12,900 3 $13,800 $16,300 4 $7,600 $27.500 a) What is the IRR for each of these projects? Using the IRR decision rule, which project should the company accept? Is the decision rule necessarily correct? b) If the required return is 11 percent, what is the NPV for each of these projects? Which project will the company choose if it applies the NPV decision rule? 9-C14. It is sometimes stated that the net present value approach assumes reinvestment of the intermediate cash flows at the required return. To answer, refer to the previous question, 9-12. a) For Project A. calculate the future value (as of the end of the project, Year 4) of all the cash flows other than the initial outlay assuming they are reinvested at the required return (11%), producing a single future value figure for the project