Net Present Value Versus Internal Rate of Return For discount factors use Exhibit 128-1 and Exhibit 128-2. Skiba Company is thinking about two different modifications to its current manufacturing process. The after-tax cash flows associated with the two investments follow: Project I Project II Year s(100,000) $(100,000) 63,857 the NPV and the IRR for eacth IRR NPV measure and reveals how much the value of the firm will change for each project. IRR gives a it is preferred to the IRR measure y ch