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. The projects are repeatable. What should you do? You should do both projects because both 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 neither project because neither of them would add value to your company. True or false: The sales price of old equipment that is replaced by new equipment is included in the capital budgeting calcu True False