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You have been assigned to the Finance Department in order to assess two mutually exclusive projects, codenamed Project Alpha and Project Beta as to their financial viability. You have compiled as best you can the cash-flows that are associated with each of the two projects and these are set out below: The required rate of return on these projects is 11%. (a) Calculate the net present value for each project. (8 marks) (b) Calculate each project's internal rate of return. (8 marks) (c) If there is a ranking inconsistency between the two methods i.e. the net present value and the internal rate of return, what has caused this to occur? Critically discuss which project should be accepted and why? (4 marks) (d) Critically discuss the benefits of using the payback method together with NPV or IRR. (5 marks) Present Value Factors - extract. Total (25 marks)