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You are choosing between two projects. The cash flows for the projects are given in the following table (5 million): Project Year 0 Year 1

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You are choosing between two projects. The cash flows for the projects are given in the following table (5 million): Project Year 0 Year 1 Year 2 A - $50 $24 $22 B - $102 $21 $42 Year 3 $18 $52 Year 4 $17 $62 a. What are the IRRs of the two projects? b. If your discount rate is 4.7%, what are the NPVs of the two projects? c. Why do IRR and NPV rank the two projects differently

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