As a CFO, you received two proposals for projects, one from CMO (Chief Marketing Officer) and one from COO (Chief Operation Officer). The cash flow estimates andIRR are as follows (cash flows are in $ millions). The hurdle rate (discount rate) you use in your company is 10%.

After doing some additional research, you realize that the opportunity cost of capital for your company should be 15%. Now which projects would you invest in?If you can't do the calculations due to time constraints, please provide a conceptual answer. [5 points]

Year 0 Year 3 Year 4 IRR 25% Year 1 5 Year 2 2 Year 5 0 Tech Project -8 3 3 Year 1 Marketing Operations IRR 13% 14% Year 0 -60 -52 5 26 Year 2 10 26 Year 3 45 -4 Year 4 20 10 Year 5 8 12