Question: Imagine you were comparing two projects. Both require the same initial outlay of cash and both have a positive NPV and an IRR greater than

Imagine you were comparing two projects. Both require the same initial outlay of cash and both have a positive NPV and an IRR greater than your discount rate. One has a higher NPV and the other has a higher IRR. Which project is the better choice--the one with the higher NPV or the one with the higher IRR?

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