Here are the cash flows for two mutually exclusive projects:

Project C$0$ C$1$ C$2$ C$3$ C$4$

A $-25,000+8,000+8,000+8,000+8,000$

B $-25,000+0+0+0+35,000$

a$)$ What is the IRR of each project? Explain what IRR value means.

b$)$ What is NPV of each project when the discount rate is $5\%?$

c$)$ Results from part a$)$ and b$)$ are not consistent. Explain why.