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You are choosing between two projects. The cash flows for the projects are given in the following table ($ 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 ($ million): Project Year 0 Year 1 $23 B $98 $21 - $49 Year 2 $20 $38 Year 3 $21 $52 Year 4 $12 $60 a. What are the IRRs of the two projects? b. If your discount rate is 5.2%, what are the NPVs of the two projects? c. Why do IRR and NPV rank the two projects differently

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