6 Three different decision rules were used to consider two projects. Based on the information presented in the table below, answer the following questions. 1. Which one of the projects would you chose based on the NPV rule? Why? 2. Which one of the projects would you chose based on the IRR rule, assuming r=7%? Why? 3. Which one of the projects would you chose based on the PI rule? Why? 4. Now that you analyzed projects under each decision rule, what would be your final decision? Which project would you choose? Why? 5. You have just received a piece of information that the actual r is 15% and not 7% as previously assumed. How would this affect your decision based on the IRR rule? Explain. (15 Points) Project Ball Project Car NPV $3,248 8% $7,237 11% 0.67 IRR 0.91 PI