projects have $4-$year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is $11\%.$

Project A

Project B

What is Project A$\text{'}$s IRR? Do not round intermediate calculations. Round your answer to two decimal places.

$\%$

What is Project B$\text{'}$s IRR? Do not round intermediate calculations. Round your answer to two decimal places.

$\%$

If the projects were independent, which project$($s$)$ would be accepted according to the IRR method?

$1$

If the projects were mutually exclusive, which project$($s$)$ would be accepted according to the IRR method?

$3$

Could there be a conflict with project acceptance between the NPV and IRR approaches when projects are mutually exclusive?

The reason is $-$ Select$-$

budgeting decision.