3. Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown on the time line below. Depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is 10%.

	0		1		2		3		4
Project A	-1,060		610		400		260		310
Project B	-1,060		210		335		410		760

What is Project A's NPV? Round your answer to the nearest cent. Do not round your intermediate calculations. $ ___

What is Project B's NPV? Round your answer to the nearest cent. Do not round your intermediate calculations. $ ___

4. Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown on the time line below. Depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is 12%.

	0		1		2		3		4
Project A	-1,150		650		320		270		390
Project B	-1,150		250		255		420		840

What is Project As IRR? Do not round intermediate calculations. Round your answer to two decimal places. ____ %

What is Project B's IRR? Do not round intermediate calculations. Round your answer to two decimal places. _____ %