please dont use excel

IRR on Increments of Investment compared with Project Project First Cost IRR on Overall Investment 1 2 3 1 2 3 4 $ 300,000 350,000 400,000 500,000 20% 16% 12% 18% 10% 16% 20% 13% 16% 12% The data can be interpreted in the following way: The IRR on the incremental investment between project 4 and project 3 is 12%. a) If the projects are independent, which projects should be undertaken if the MARR is 16%? b) If the projects are mutually exclusive, which project should be undertaken if the MARR is 13%? Indicate what logic you have used. IRR on Increments of Investment compared with Project Project First Cost IRR on Overall Investment 1 2 3 1 2 3 4 $ 300,000 350,000 400,000 500,000 20% 16% 12% 18% 10% 16% 20% 13% 16% 12% The data can be interpreted in the following way: The IRR on the incremental investment between project 4 and project 3 is 12%. a) If the projects are independent, which projects should be undertaken if the MARR is 16%? b) If the projects are mutually exclusive, which project should be undertaken if the MARR is 13%? Indicate what logic you have used