Big Company is evaluating two projects, Project A and Project B. Both projects are of equal risk. Big Company has a WACC of 11%. The expected Free Cash Flows of the projects are as follows:

Period	Annual Cash Flows Project A		Annual Cash Flows Project B
0	($10,000)		($10,000)
1	2,000		5,500
2	3,000		3,500
3	4,000		3,000
4	5,000		500

Compute the Internal Rate of Return (IRR) for "A". Show your inputs/work for partial credit.

The Internal Rate of Return of Project B is 12.96%. If Projects A and B are independent, considering only at the IRR method, which project(s) should Big Company proceed with? Explain your answer.

The Internal Rate of Return of Project B is 12.96%. If Projects A and B are mutually exclusive, considering only at the IRR method, which project(s) should Big Company proceed with? Explain your answer.