Big Company is evaluating two projects, Project A and Project B. Both projects are of equal risk. Big Company has a WACC of 9%. The expected Free Cash Flows of the projects are as follows:

Period	Annual Cash Flows Project A		Annual Cash Flows Project B
0	($20,000)		($20,000)
1	4,200		11,000
2	6,000		7,000
3	8,000		6,000
4	11,000		2,000

Compute the Internal Rate of Return (IRR) for "A"

The Internal Rate of Return of Project B is 14.83%. If Projects A and B are independent, considering only at the IRR method, which project(s) should Big Company proceed with?

If Projects A and B are mutually exclusive, considering only at the IRR method, which project(s) should Big Company proceed with?