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You are choosing between two projects. The cash flows for the projects are given in the following table (S million) Year 0 - $52 -

You are choosing between two projects. The cash flows for the projects are given in the following table (S million) Year 0 - $52 - $98 Year 1 $23 $22 Year 2 $22 $38 Year 3 $22 $50 Year 4 $15 $62 Project 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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