1. Big Company is evaluating two projects, Project A and Project B. Both projects are of equal risk. Big Company has a WACC of 10%. The expected Free Cash Flows of the projects are as follows:

Period	Project A	Project B
0	(25,000)	(25,000)
1	5000	20000
2	10000	10000
3	15000	8000
4	20000	6000

1. Compute the Internal Rate of Return of Project A.

2. The Internal Rate of Return of Project B is 36.15%. If Projects A and B are independent, considering only at the IRR method, which project(s) should Big Company proceed with

3. The Internal Rate of Return of Project B is 36.15%. If Projects A and B are mutually exclusive, considering only at the IRR method, which project(s) should Big Company proceed with?

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