Project "A"		Project "B"		Project "C"
Rate:			NPV for given discount rate
8%		4,500		4,800		2,950
10%		4,150		4,000		2,200
13%		3,800		2,800		1,900
15%		2,200		(500)		1,600
20%		(1,500)		(2,200)		800
25%		(2,500)		(3,800)		200
IRR:		15%		14%		12%

IRR:

Assume the risk on all projects are equal and your required rate of return is 15%.
Which project(s) would you accept?

15%

14%

12%