Project A has an IRR of 13% and an NPV of $32,011.

Project B has an IRR of 11% and an NPV of $265,012.

The company considering Projects A and B has a discount rate of 10%. The company can only afford to invest in one new project at the time, so it cannot pursue both A and B.

Although, the two rules are generally equal in validity, it would be better for the company to use the ___________ to select between Projects A and B.

		NPV Rule
		IRR Rule