Please solve only using a calculator! (We do not use excel for exams, therefore I would like to learn how to solve on my own) Thank you!!

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

Year	Cash Flow (A)	Cash Flow (B)
0	$36,500	$36,500
1	18,820	6,400
2	14,320	12,900
3	11,820	19,400
4	8,820	23,400

Required:

(a)	What is the IRR for Project A?

(b)	What is the IRR for Project B?

(c)	If the required return is 13 percent, what is the NPV for Project A?

(d)	If the required return is 13 percent, what is the NPV for Project B?

(e)	At what discount rate would the company be indifferent between these two projects?