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Garage, Inc., has identified the following two mutually exclusive projects: Year Cash Flow (A) Cash Flow (B) 0 $ 29,100 $ 29,100 1 14,500 4,350

Garage, Inc., has identified the following two mutually exclusive projects:

Year Cash Flow (A) Cash Flow (B)
0 $ 29,100 $ 29,100
1 14,500 4,350
2 12,400 9,850
3 9,250 15,300
4 5,150 16,900

At what discount rate would the company be indifferent between these two projects?

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