. a. You are analyzing two mutually exclusive projects with the following cash flows:

Year	Project A	Project B
0	-$6,000,000	-$6,000,000
1	$3,400,000	$1,000,000
2	$2,700,000	$2,500,000
3	$2,500,000	$2,700,000
4	$1,000,000	$3,400,000

i) Estimate the NPV of each project, assuming a cost of capital of (the average age of your team divided by 3)%. Which is the better project?

ii) Estimate the IRR for each project. Which is the better project?

iii) What reinvestment rate assumptions are made by each of these rules? Show the NPV profiles of these projects with a graph in Excel.

iv) What is the MIRR on each of these projects assuming reinvestment at the cost of capital?

Support, Evidence, or both (data).