Project 1

NPV	-$18,383.66
NPV- Risk Adjusted	-$11,103.14
IRR	0%

Project 2

NPV	$204,263.70
NPV- risk adjusted	$139,535.56
IRR	18%

Project 3

NPV	$3,498.16
NPV Risk Adjusted	$3,498.16
IRR	8%

Project 4A (in house)

NPV	$10,705.33
NPV Risk Adjusted	$2,351.24
IRR	11%

Project 4B (outsourced)

NPV	$2,903.75
NPV Risk Adjusted	$2,903.75
IRR	8%

Which project would you recommend to the board to take on and why? Please keep in mind the discount rate and how that affects you decision, both discounted and if it were not discounted. Try to be as descriptive as possible please.