XYD company is considering two major projects. The firm has raised all its capital in the form of equity and has never borrowed money. Shareholders in XYD company regard the firm as relatively risky, given its existing portfolio of projects. Other firms' shares in this risk class have generally given a return of 13% per annum and this is taken as the opportunity cost of capital for the investment projects. The cash flows in OMR are: Points in time (Yearly intervals) t. ts to t. t, t10 Muscat Seeb |-100000 4000 5500 8500 1000 12000 14000 18000 19000 23000 20000 |-110000 1000/2400 8000 9000 12000 1700020000 21000 22000 27000 a) Calculate the IRR for each of these projects? b) Based on the IRR, which project do you recommend XYD company to accept