IRR on First Cost Project (in $) Overall Investment Question 7 (5 marks): The following table summarizes information for five projects: IRR on Increments of Investment Compared with Projects (%) 1 2 3 4 1 100,000 19% 2 175,000 15% 9% 3 200,000 18% 17% 23% 4 250,000 16% 12% 17% 13% 5 300,000 17% 14% 11% 17% 16% One can interpret the data in the following way: The IRR on the incremental investment between project 5 (the challenger) and project 4 (the Current Best Alternative) is 16%. If the projects are mutually exclusive and the company's MARR is 15%, which project should the company undertake? Your work must clearly show all comparisons with reasoning for each sequential decision.