Without Excel

Hardchoice Corp. is a firm considering prospective capital budgeting projects. Selected data on the projects follow: 5. Ignoring the information in question (a), assume instead that projects A and C are independent, Hardchoice is subject to capital rationing (i.e., it may not be able to afford both projects), and the relevant discount rate is 10%. How would you rank A and C ? (A) IRR of Project A is 14% and IRR of Project C is 41%, so Project A is better than Project C. (B) IRR of Project A is 14% and IRR of Project C is 41%, so Project C is better than Project A. (C) PI of Project A is 1.12 and PI of Project C is 1.9, so Project C is better than project A. (D) PI of Project A is 1.12 and PI of Project C is 1.9, so Project A is better than project C. (E) None of the above are true