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1.Central Energy is considering two mutually exclusive projects, Project Red and Project The projects have the following cash flows:

	Project Red	Project White
Year	Cash Flows	Cash Flows
0	-1,000	-1,000
1	100	700
2	200	400
3	600	200
4	800	100

Assume that both projects have a 10 percent WACC.

At what weighted average cost of capital would the two projects have the same net present value?

1. 20.04%

2. 24.96%

3. 10.00%

4. 14.30%

5. 0.00%