Framing Hanley, LLC, has identified the following two mutually exclusive projects:

Year	Cash Flow (A)				Cash Flow (B)
0		?$	68,000			?$	68,000
1			44,000				30,200
2			38,000				34,200
3			25,000				40,000
4			15,600				24,200

Requirement 1:
(a)	What is the IRR for each of these projects?(Do not include the percent signs (%).Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations.Round your answers to 2 decimal places (e.g., 32.16).)

	Internal rate of return
Project A	%
Project B	%

(b)	If you apply the IRR decision rule, which project should the company accept?
	(Click to select) Project A Project B

Requirement 2:
(a)	Assume the required return is 14 percent. What is the NPV for each of these projects?(Do not include the dollar signs ($).Enter rounded answers as directed, but do not use the rounded numbers in intermediate calculations.Round your answers to 2 decimal places (e.g., 32.16).)

	Net present value
Project A	$
Project B	$

(b)	Which project will you choose if you apply the NPV decision rule?
	(Click to select) Project A Project B

Requirement 3:
(a)	Over what range of discount rates would you choose Project A?(Do not include the percent sign (%).Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).)

Project A

(Click to select) Above Below

@%

(b)	Over what range of discount rates would you choose Project B?(Do not include the percent sign (%).Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).)

Project B

(Click to select) Below Above

@%

(c)	At what discount rate would you be indifferent between these two projects?(Do not include the percent sign (%).Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations.Round your answer to 2 decimal places (e.g., 32.16).)

Discount rate

%