A snack food manufacturer is planning to introduce three new products simultaneously. Investments and per-year cash flows are given for each:

Initial Investment

Cash Flow per Year

A. Potato chips $ 5 million        $1.60 million

B. Popcorn $ 2 million                $0.75 million

C. Granola bars $ 11million       $3.25 million

Assuming that the cash flows will be received for 5 years, compute the NPV and the IRR (to the nearest integer value) for each project. Use a required rate of return of 10%. Rank-order each project from best to worst.