20.) A firm is considering two mutually exclusive projects with equal lives. Project A has an NPV of $120,000, an IRR of 12%, and a payback period of 3.1 years. Project B has an NPV of $100,000, an IRR of 14%, and a payback period of 2.8 years. The firm should choose: a. Project A because its NPV is higher than Project Bs NPV. b. Project B because its payback period is shorter than Project Bs. c. Project B because its IRR is greater than Project As IRR. d. Neither project. e. Both projects

24). When evaluating a new project, the firm should consider all of the following except: a. Changes in working capital attributable to the project. b. Sales from existing projects that would be lost due to the new project. c. Money the firm has previously spent on R&D for the project. d. Market value of the land that the firm already owns and will use for the project. e. None of the above