Bruin, Incorporated, has identified the following two mutually exclusive projects:

Year	Cash Flow (A)	Cash Flow (B)
0	$ 29,400	$ 29,400
1	14,800	4,500
2	12,700	10,000
3	9,400	15,600
4	5,300	17,200

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?
	multiple choice 1 Project A Project B

a-3.	Is this decision necessarily correct?
	multiple choice 2 Yes No

b-1.	If the required return is 12 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.)