You have a choice between two mutually exclusive investments.

Year	Project A	Project B
0	-$35	-$10
1	12	4
2	20	4
3	10	4
4	9	4

(a) Find the internal rate of return (IRR) for both projects and determine which should be accepted if the required rate of return is 25%. Explain why. You need to provide equations.

(b) Find the crossover rate. You need to provide equations.

(d) If the required rate of return is 15%, which project should be chosen if the NPV method is applied? What about if the IRR method is applied? Would the IRR method have a ranking conflict with the NPV method? Support your argument based on the NPV profile in part (c). Do not show any calculations.

(e)If the required rate of return is 22%, which project should be chosen if the NPV method is applied? What about if the IRR method is applied? Would the IRR method have a ranking conflict with the NPV method? Support your argument based on the NPV profile in part (c). Do not show any calculations.