1. A firm must choose between two mutually exclusive projects, A & B. Project A has an initial cost of $11000. Its projected net cash flows are $900, $2000, $3000, $4000, and $5000 at the end of years 1 through 5, respectively. Project B has an initial cost of $15000, and its projected net cash flows are $7000, $5000, $3000, $2000, and $1000 at the end of years 1 through 5, respectively. The IRRs of Projects A & B are, respectively:

		9.92%; 10.88%
		8.75%; 9.05%
		9.92%; 12.83%
		7.55%; 9.05%
		11.44%; 12.83%