Suppose Odell's is trying to decide how best to use the plot of land next to their brewery. They can turn it into a hops garden to grow hops to sell to local homebrewers or use the space to expand their ability to produce barrel aged beers. The hops garden will cost $100,000 and is expected to bring in cash flows of $22.611 over the next seven years. The expansion will cost $300,000 and is expected to bring in cash flows of $63, 655 over the next seven years. Assume k = 8%. What is the NPV for the hops garden? A) $58, 277 B) $101, 877 C) $11, 177.21 D) $17, 721.23 What is the IRR for the hops garden? A) 8% B) 11% C) 13% D) 15% What is the NPV for the expansion? A) $145, 585 B) $331, 412 C) $31, 111.49 D) $31, 411.49 What is the IRR for the barrel aging space expansion? A) 8% B) 11% C) 21.2% D) 17% Which project should Odell's choose? A) Hops garden B) Barrel aging space expansion C) Either project would be an acceptable choice D) Impossible to determine because there is a conflict between the NPV and IRRs