Problem 8-10 NPV versus IRR (LO 3, 4] Piercy, LLC, has identified the following two mutually exclusive projects: Year Cash Flow (A) Cash Flow (B) 0 -$ 77,500 -$ 77,500 1 43,000 21,500 2 29,000 28,000 3 23,000 34,000 4 21,000 41,000 AN a-1. What is the IRR for each of these projects? (Do not round Intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) a-2.If you apply the IRR decision rule, which project should the company accept? b-1. Assume the required return is 11 percent. What is the NPV for each of these projects? (Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b-2.Which project will you choose if you apply the NPV decision rule? % % a-1. Project A Project B a-2. Project acceptance b-1. Project A Project B b-2. Project acceptance c-1. Over what range of discount rates would you choose Project A? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c-2.Over what range of discount rates would you choose Project B? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c-3.At what discount rate would you be indifferent between these two projects? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Project A Project B Indifferent interest rate an interest rate of an interest rate of % %