You are trying to determine which of two mutually exclusive projects to undertake. Project Adam has an initial outlay of $10,000, an NPV of $4,392.15, an IRR of 11.33%, and an EAA of $1,158.64. Project Eve has an initial outlay of $15,000, an NPV of $5,833.73, an IRR of 9.88%, and an EAA of $1,093.50. The cost of capital for both projects is 9%, and the projects have different lives. If the projects are not repeatable, then:

You should do both projects because they have positive NPVs.

You should do Project Adam because it has a higher EAA.

You should do Project Eve because it has a higher NPV.

You should do Project Adam because it has a higher IRR.

You should do no projects because neither add value to you.