Your division is considering two investment projects, each of which requires an up-front expenditure of $23 million. You estimate that the investments will produce the following net cash flows:

Year	Project A	Project B
1	$ 4,000,000	$20,000,000
2	10,000,000	10,000,000
3	20,000,000	8,000,000

What are the two projects' net present values, assuming the cost of capital is 5%? Round your answers to the nearest dollar. Project A $ Project B $ What are the two projects' net present values, assuming the cost of capital is 10%? Round your answers to the nearest dollar. Project A $ Project B $ What are the two projects' net present values, assuming the cost of capital is 15%? Round your answers to the nearest dollar. Project A $ Project B $

What are the two projects' IRRs at these same costs of capital? Round your answers to two decimal places. Project A % Project B %