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

Year	Cash Flow (A)	Cash Flow (B)
0	$37,300	$37,300
1	19,660	7,180
2	15,170	13,680
3	12,660	20,160
4	9,660	24,160

Required:

(a)	What is the IRR for Project A?
	(Click to select) 23.69% 22.56% 23.24% 21.43% 21.88%

(b)	What is the IRR for Project B?
	(Click to select) 22.83% 20.65% 21.74% 21.09% 22.39%

(c)	If the required return is 11 percent, what is the NPV for Project A?
	(Click to select) $8,093.92 $8,761.46 $8,594.58 $7,927.04 $8,344.25

(d)	If the required return is 11 percent, what is the NPV for Project B?
	(Click to select) $11,473.58 $10,927.22 $10,599.4 $11,255.04 $10,380.86

(e)	At what discount rate would the company be indifferent between these two projects?
	(Click to select) 18.6% 19.58% 18.99% 20.56% 20.17%