i) If projects are independent, which projects should be undertaken if the MARR is 16%.

ii) If the projects are mutually exclusive, which project should be undertaken if the MARR is 15%?

iii) If the projects are mutually exclusive, which project should be undertaken if the MARR is 17%?

1 The following table summarizes information for four projects: Project First cost IRR on total IRR on increments of investment compared with (overall) investment project 2 $100,000 19% 2 175,000 15% 9% 3 200,000 18% 17% 23% 4 250,000 16% 12% 17% 13% The data can be interpreted in the following way: The IRR on the incremental investment between project 4 and project 3 is 13%