Period	Annual Cash Flows Project A	Annual Cash Flows Project B
0	(25,000)	(25,000)
1	5,000	20,000
2	10,000	10,000
3	15,000	8,000
4	20,000	6,000

Big Company is evaluating two projects, Project A and Project B. Both projects are of equal risk. Big Company has a WACC of 10%. The expected free cash flows of the projects are as follows

A. Compute the Modified Internal Rate of Return (MIRR) for Project A.

B. The modified internal rate of return of project B is 20.96%. If projects A and B are independent, considering only the MIRR method, which project(s) should Big Company proceed with? Explain your answer.

C. The modified internal rate of return of project B is 20.96%. If project(s) A and B are mutually exclusive, considering only the MIRR method, which project(s) should Big Company proceed with? Explain your answer.