In the file named NPV.xlsx in Chapter 8, “The net present value functions NPV and XNPV,” we found that for high interest rates, Project 1 has a larger NPV, and for low interest rates, Project 2 has a larger NPV. For what interest rate would the two projects have the same NPV?

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1 123 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 A r NPV Time 277.7778 Inv 1 CF -27.7778 Inv 2 CF PV Inv 1 PV Inv 2 B PV beginning of Year Inv 1 Inv 2 PV End of Year Inv 1 Inv 2 PV Middle of year Inv 1 Inv 2 C 0.2 0 D 1 -10000 24000 -6000 8000 -10000 20000 -9722.22 -6000 6666.667 -694.444 $277.78 $277.78 ($27.78) ($27.78) $231.48 ($23.15) $253.58 ($25.36) E 2 Total of F -14000 -1000 0 1000