YEAR	CASH FLOW A	CASH FLOW B
0	-62000	-62000
1	38000	24800
2	32000	28800
3	22000	34000
4	14400	24800

a-1: what is the IRR for each of these projects? (two decimal places)

a-2: if you apply the IRR decision rule, which project should the company accept?

b-1: assume the required rate of return is 13%. What is the NPV for each of these projects?

b-2: which project will you choose if you apply the NPV decision rule?

c-1: over what range of discount rates would you choose project a? above or below?

c-2: over what range of discount rates would you choose project b? above or below?

d: at what discount rate would you be indifferent between these two projects? (round to two decimals)

a-1	project A	%
	project B
a-2
	project A
	project B
b-2
c-1		%
c-2		%
d	Discount rate	%