Spring 2019 AREC 450/350 (40 points) Capital Budgeting Your division is considering two projects. Its WACC is 10%, and the projects' after-tax cash flows (in millions of dollars) would be as follows: 0 $15 $8 $10 $10 $20 56 Project A $30 Project B $30 $5 $20 (30') Calculate the projects' NPVs, IRRs, MIRRs, regular paybacks, and discounted paybacks. a. b. (3) If the two projects are independent, which project(s) should be chosen? c. (3') If the two projects are mutually exclusive and the WACC is 10%, which projects) should be chosen? (4') Is it possible for conflicts to exist between the NPV and the IRR when independent projects are being evaluated? Explain your answer. d