Please write out the steps and work step by step.

no excel

Your division is considering two projects, each of which requires an upfront expenditure of $25 million. You estimate that the cost of capital is 10 percent and that the investments will produce the following after-tax cash flows (in millions of dollars). Year Project A Project B 1 $5 $20 2 10 10 3 15 8 4 20 6 Assume these projects are mutually exclusive. What would the capital budgeting decision be for the year if the firm used a 2 percentage point risk adjusted discount rate approach to evaluate projects if project A is deemed to be a riskier than usual project? How would your answer differ if the firm did not risk adjust at all