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

Year	Cash Flow (A)		Cash Flow (B)
0	$	29,700			$	29,700
1		15,100				4,650
2		13,000				10,150
3		9,550				15,900
4		5,450				17,500

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

	IRR
Project A	%
Project B	%

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 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.)

	NPV
Project A	$
Project B	$

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. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Discount rate

%