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

Year	Cash Flow (A)	Cash Flow (B)
0	$36,200	$36,200
1	18,700	6,300
2	14,200	12,800
3	11,700	19,300
4	8,700	23,300

Required:

(a)	What is the IRR for Project A?
	(Click to select)20.96%19.33%21.37%19.74%20.35%

(b)	What is the IRR for Project B?
	(Click to select)19.8%21.02%20.41%21.43%19.39%

(c)	If the required return is 10 percent, what is the NPV for Project A?
	(Click to select)$7,050.1$7,486.18$7,268.14$6,904.73$7,631.55

(d)	If the required return is 10 percent, what is the NPV for Project B?
	(Click to select)$11,046.39$9,994.35$10,835.98$10,204.76$10,520.37

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