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

Year	Cash Flow (A)	Cash Flow (B)
0	$36,100	$36,100
1	18,800	6,200
2	14,300	12,700
3	11,800	19,200
4	8,800	23,200

Required:

(a)	What is the IRR for Project A?
	(Click to select)20.32%21.58%22%20.95%19.9%

(b)	What is the IRR for Project B?
	(Click to select)20.22%20.83%19.21%19.61%21.23%

(c)	If the required return is 9 percent, what is the NPV for Project A?
	(Click to select)$8,103.16$8,956.12$8,273.75$8,785.53$8,529.64

(d)	If the required return is 9 percent, what is the NPV for Project B?
	(Click to select)$11,538.8$11,884.96$11,192.64$10,961.86$12,115.74

(e)	At what discount rate would the company be indifferent between these two projects?
	(Click to select)18.96%17.86%19.33%17.49%18.41%