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a 10-21 The Parrish Publishing Company is considering two mutually exclusive expansion plans. Plan Scale differences A calls for the expenditure of $40 million on a large-scale, integrated plant that will provide an expected cash flow stream of $6.4 million per year for 20 years. Plan B calls for the ex- penditure of $12 million to build a somewhat less efficient, more labor-intensive plant that has an expected cash flow stream of $2.72 million per year for 20 years. Parrish's cost of capital is 10 percent. a. Calculate each project's NPV and IRR. b. Graph the NPV profiles for Plan A and Plan B. From the NPV profiles constructed, ap- proximate the crossover rate. c. Give a logical explanation, based on reinvestment rates and opportunity costs, as to why the NPV method is better than the IRR method when the firm's cost of capital is constant at some value such as 10 percent. a 10-21 The Parrish Publishing Company is considering two mutually exclusive expansion plans. Plan Scale differences A calls for the expenditure of $40 million on a large-scale, integrated plant that will provide an expected cash flow stream of $6.4 million per year for 20 years. Plan B calls for the ex- penditure of $12 million to build a somewhat less efficient, more labor-intensive plant that has an expected cash flow stream of $2.72 million per year for 20 years. Parrish's cost of capital is 10 percent. a. Calculate each project's NPV and IRR. b. Graph the NPV profiles for Plan A and Plan B. From the NPV profiles constructed, ap- proximate the crossover rate. c. Give a logical explanation, based on reinvestment rates and opportunity costs, as to why the NPV method is better than the IRR method when the firm's cost of capital is constant at some value such as 10 percent