Kerron Company is presented with the following two mutually exclusive projects. The required return for both projects is 18 percent. a. What are net present values (NPV), internal rate of returns (IRR), and profitability indices (PI) of these projects? b. Are there any conflicts among decision criteria? Explain. c. Which project should be accepted and why? d How can you use the IRR to identify the correct investment to take in this case? Show your results.

Year Cash Flow M Cash Flow N 0 -141,000 -358,000 1 64,000 151,000 2 82,000 183,000 3 73,000 136,000 4 59,000 130,000

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