Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown on the time line below. Depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is 9%. 0 1 2 3 4 Project A 420 280 310 -950 -950 550 410 Project B 315 395 500 What is Project Delta's IRR? Do not round intermediate calculations. Round your answer to two decimal places. % What is the significance of this IRR? It is the -Select- after this point when mutually exclusive projects are considered there is no conflict in project acceptance between the NPV and IRR approaches. Review the graphs below. Select the correct graph that represents the NPV profile for Projects A and B. NPV Profiles A NPV Profiles B NPV Profiles C NPV Profiles D *NPV IN PV INPV *NPV 600 600 600 600 500+ 500 500+ 500+ 400 400+ 400 400+ 300- 300- 300- 300 200 200+ 200 200 FEES 100+ 100 100 100 5 15 10 15 20 5 20 10 15 30 10 10 15 25 20 20 -100 -100 -100 -100 Cost of Capital Cost of Capital Cost of Capital Cost of Capital -200 -200 -200 -200 -300- -300+ -300 -300 -400+ -400+ -400 -400+ Project A Project A Project B Project B Project A Project B Project A Project B The correct graph is -Select