When considering including two pieces of equipment, a truck and an overhead pulley system, in this year's capital budget. The projects are independent. The cash outlay for the truck is $17,400, and that for the pulley system is $20,200. The firm's cost of capital is 13.50%. After-tax cash flows, including depreciation, are as follows: Year Truck Pulley 1 $4,500 $9,300 2 $4,500 $9,300 3 $4,500 $9,300 4 $4,500 $9,300 5 $4,500 $9,300

a. Calculate MIRR of truck project.

b. Calculate NPV and MIRR of pulley project

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