You are considering the following mutually exclusive projects:

Year	Project 1	Project 2
0	-43,960	-77,560
1	26,690	36,370
2	17,260	31,360
3	25,870	44,850
4	17,460	24,360

Calculate the designated investment criteria. Assume the required return is 11.30% percent.

	Project 1	Project 2
NPV	$___	$___
PP	___years	___years
IRR	___%	___%

Which project should be accepted?

• Both projects

• Neither

• Project 2

• Project 1

Please show ALL STEPS, please do NOT use excel.