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You are choosing between two projects. The cash flows for the projects are gven 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 gven in the following table (5 million) Project Year 0 Year 1 $25 $21 - $50 - $100 Year 2 $22 $39 Year 3 $22 $52 Year 4 512 $60 B a. What are the IRRs of the two projects? b. If your discount rate is 5.1%, what are the NPVs of the two projects? c. Why do IRR and NPV rank the two projects differently

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