The following cash flows are provided for the two mutually exclusive projects A and B. Project A requires an initial investment of $15,000, and Project B requires an initial investment of $13,000.

Year	Project A	Project B
1	$5,000	$8,000
2	$6,000	$6,000
3	$7,500	$4,000
4	$8,000	$3,000
5	$6,000	$2,500

(a) Calculate the NPV for each project using a discount rate of 10%.

(b) State your accept/reject decision.

(c) What would be your accept/reject decision if they were independent projects?

(d) Calculate the IRR for each project.

(e) Compare the IRR and NPV results and discuss any differences in your decisions.