Jacob's Engineering is considering including two pieces of equipment, a truck and an overhead pulley system, in this year's capital budget. The projects are independent. The cash outlay for the truck is 39,500 and that for the pulley system is 94,800. The firm's cost of capital is 14%. After-tax cash flows, including depreciation are as follows:

Year	Truck	Pulley
1	12,500	31,000
2	12,500	31,000
3	12,500	31,000
4	12,500	31,000
5	12,500	31,000

Calculate for the MIRR for each of the project and indicate the correct accept/reject decision for each.