Your division is considering two investment projects, each of which requires an up-front expenditure of $19 million. You estimate that the investments will produce the following net cash flows.

Year Project A Project B

1 $5,000,000 $20,000,000

2 10,000,000 10,000,000

3 20,000,000 7,000,000

a. What are the two project's net present values, assuming the cost of capital is 5%? Round your answers to the nearest dollar.

What are the two project's net present values, assuming the cost of capital is 10%? Round your answers to the nearest dollar.

What are the two project's net present values, assuming teh cost of capial is 15%? Round your answers to the nearest dollar.

b. What are the two project's IRRs at these same costs of capital? Round your answers to two decimal places.