The CFO of Horatios Hotels gave three college interns three different independent projects to evaluate. Following are the results of their analyses:

Interns name	Projects life	NPV	IRR	Discounted payback	Decison
Albert	7 yrs	$5,300	12%	6.8 yrs	Accept
Josie	6 yrs	(1,800)	8.0%	5.8 yrs	Reject
Kenny	10 yrs	$4,500	10.0%	9.6 yrs	Accept

The CFO agrees with the final accept/reject decision that each intern made. But she spotted an error in the numbers reported by one of the interns. (a) Which interns report has the error? (b) Does the information given here provide an indication of the firms required rate of return? Explain your answers.