3. You are considering two mutually exclusive projects with the following cash flows. Which project(s) should you accept if the discount rate is 8.5 percent? What if the discount rate is 13 percent? Year Project A Project B -$80,000 -$80,000 31,000 31,000 0 31,000 110,000 A. accept project A as it always has the higher NPV B. accept project B as it always has the higher NPV C. accept A at 8.5 percent and B at 13 percent D. accept B at 8.5 percent and A at 13 percent E. accept B at 8.5 percent and neither at 13 percent 4. An investment has the following cash flows and a required return of 13 percent. Based on IRR, should this project be accepted? Why or why not? Year Cash Flow -$42,000 15,300 28,400 7,500 A. No: The IRR exceeds the required return by about 0.06 percent. B. No; The IRR is less than the required return by about 1.53 percent. C. Yes; The IRR exceeds the required return by about 0.06 percent. D. Yes; The IRR exceeds the required return by about 1.53 percent. E. Yes; The IRR is less than the required return by about 0.06 percent