please solve 9-c14 and 9-c15

9-12. Bruin, Inc., has identified the following two mutually exclusive projects, Project A and Project B: Year 0 1 Cash Flow (A) -$37,500 $17,300 $16,200 $13,800 $7,600 Cash Flow (B) -$37,500 $5,700 $12,900 $16,300 $27,500 2 3 4 a) What is the IRR for each of these projects? Using the IRR decision rule, which project should the company accept? Is the decision rule necessarily correct? b) If the required return is 11 percent, what is the NPV for each of these projects? Which project will the company choose if it applies the NPV decision rule? 9-C14. It is sometimes stated that the net present value approach assumes reinvestment of the intermediate cash flows at the required return." To answer, refer to the previous question, 9-12. a) For Project A, calculate the future value (as of the end of the project, Year 4) of all the cash flows other than the initial outlay assuming they are reinvested at the required return (11%), producing a single future value figure for the project. b) Calculate the NPV and the IRR of Project A using the single future value calculated in the previous step and the initial outlay. It is easy to verify that you will get the same NPV as in your original calculation only if you use the required return as the reinvestment rate in the previous step. 9-C15. It is sometimes stated that "the internal rate of return approach assumes reinvestment of the intermediate cash flows at the internal rate of return." Is this claim correct? To answer, refer to the previous question, 9-12. a) For Project A, calculate the future value (as of the end of the project, Year 4) of all the cash flows other than the initial outlay assuming they are reinvested at the IRR, producing a single future value figure for the project. b) Calculate the NPV and the IRR of Project A using the single future value calculated in the previous step and the initial outlay. It is easy to verify that you will get the same IRR as in your original calculation only if you use the IRR as the reinvestment rate in the previous step