Bruin, Inc., has identified the following two mutually exclusive projects:

Year	Cash Flow (A)				Cash Flow (B)
0	$	29,800			$	29,800
1		15,200				4,700
2		13,100				10,200
3		9,600				16,000
4		5,500				17,600

a-1	What is the IRR for each of these projects? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

a-2	Using the IRR decision rule, which project should the company accept?
	Project A Project B

a-3	Is this decision necessarily correct?
	Yes No

b-1	If the required return is 10 percent, what is the NPV for each of these projects? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

b-2	Which project will the company choose if it applies the NPV decision rule?
	Project A Project B

c.	At what discount rate would the company be indifferent between these two projects? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)