Consider the following two mutually exclusive projects being considered by a fim. The firm's MARR is 13% per year and the service life is 5 years for each Project 1 Project 2 Initial cost $14,500 $22,100 Annual revenues 54449 $6,530 Present Worth (PW) $1.148 $868 Click the icon to view the interest and annuty table for discrete compounding when /= 13% per year a. Based on the PW, the project that is more economical is Project b. Calculate the IRR of each alternativo (use the trial-and-errot method) The IRR OP Project 1 (Round to the nearest one decimal place) The IRR of Project 2 % (Round to the nearest one decimal place) c. Perform the increment IRR analysis to determine the project that is more economical Incrementa RR-(Calculate to 1 decimal place) Therefore, based on the incremental RR, the most economical in Project 4. Do te wo methods produce the same recomendation for the most economical project? OA No You