Tesar Chemicals is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable. The CEO believes the IRR is the best selection criterion, while the CFO advocates the NPV. If the decision is made by choosing the project with the higher IRR rather than the one with the higher NPV, how much value will differ, i.e., what's the chosen NPV versus the maximum possible NPV? Hint: 1) use IRR criteria to choose the correct project, and then calculate the NPV of that project. 2) use NPV criteria to choose the correct project. 3) find out the difference in NPVs (i.e. NPV of CEO's decision - NPV of CFO's decision). WACC: 6.75% 0 1 2 3 4 CFS -$1,100 $750 $800 $200 $100 CFL -$1,700 $450 $925 $600 $800 Group of answer choices -$96.53 -$124.47 $0 $96.53 $124.47