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3. Hodgkiss Enterprises has gathered projected cash flows for two projects. At what interest rate would the company be indifferent between the two projects What is the IRR of each project? What is the payback period for each project? Assuming the required rate of return is 20%, what project should be chosen? Project 2 Year Project 1 $ (172,000.00)$ (172,000.00) $ 2 0 83,200.00 $ $ 3 60,000.00 74,400.00 $ $ $ 4 2 68,800.00 63,200.00 $ 5 3 76,800.00 57,800.00 $ 84,000.00 7