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Moses Manufacturing is attempting to select the best of three mutually exclusive projects, X, Y, and Z. Although all the projects have five-year lives, they

Moses Manufacturing is attempting to select the best of three mutually exclusive projects, X, Y, and Z. Although all the projects have five-year lives, they possess differing degrees of risk. Project X is the most risky; project Y is least risky; and project Z is in between. The basic cash flow data for each project and the risk-adjusted discount rates (RADRs) used by the firm are shown in the following tables. RADR Project X 22% Project y 13% Project z 15% Initial investment (CF0) -$180,000 -$235,000 -$310,000 Year (t) Cash inflows (CFt) 1 $80,000 $50,000 $90,000 2 70,000 60,000 90,000 3 60,000 70,000 90,000 4 60,000 80,000 90,000 5 60,000 90,000 90,000 __________________________________________________________________________________- a. Find the risk-adjusted NPV for each project. b. Which project, if any, would you recommend that the firm undertake

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