X Co. is considering replacing 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 $ 15,200 and that for the pulley system is $ 20,000. The firm's cost of capital is 14%. After-tax cash flows, including depreciation are as follows:

YearTruckPulley

1$ 5,300$ 7,500

25,3007,500

35,3007,500

45,3007,500

55,3007,500

Calculate the IRR, NPV and the MIRR for each project, and indicate the accept-reject decision in each case.