1. Jack Engineering is considering two projects, Project Alpha and Project Beta system, in this year's capital budget. The projects are independent. The cash outlay for the Project Alpha is $44,860 and that for the Project Beta is $34,200. The firm's cost of capital is 14%. After-tax cash flows, including depreciation, are as follows:

Year	Project Alpha	Project Beta
1	15,000	10,200
2	15,000	10,200
3	15,000	10,200
4	15,000	10,200
5	15,000	10,200

Required:

1. Calculate the IRR for each project.

(6 marks)

2. Calculate the NPV, for each project

(6 marks)

3. Calculate the MIRR for each project

(6 marks)

4. Indicate the correct accept-reject decision for each.

(2 marks)