18. You are considering the following two mutually exclusive projects. The required return on each project is 12 percent. Which project should you accept and what is the best reason for that decision? Year 0 1 Project A -$46,000 25.000 18.000 16,000 Project B -$46,000 11.000 19.000 32.000 2 3 A. Project A; because it pays back faster B. Project A; because it has the higher internal rate of return C. Project B; because it has the higher internal rate of return D. Project A, because it has the higher net present value E. Project B; because it has the higher net present value F. None of the above 16. What is the IRR of the following cash flows if the relevant discount rate is 11.6 percent? Show calculations. 0 Cash Flow -$29.000 14.600 9.200 8,700 2 3 4 17. A project has the following cash flows. What is the project payback if the discount rate is 10 percent? Show calculations. Year 0 1 Cash Flow -$29.000 14.600 9.200 8.700 7.100 2 3 4