Question $2$

Consider the following two projects. The cash flows as well as the NPV and IRR for the two projects are given. For both projects, the required rate of return is $10\%.$ What discount rate would result in the same NPV for both projects?

$\backslash$table$[[$Year$,$Cash flows,,NPV$,$IRR$(\%)],[0,1,2,3,4,,,,,],[$Project $1,-100,36,36,36,36,14\mathrm{.}12,16\mathrm{.}37,,,],[$Project $2,-100,0,0,0,175,19\mathrm{.}53,15\mathrm{.}02,,,,,]]$

A rate between $0\mathrm{.}00\%$ and $10\mathrm{.}00\%.$

A rate between $10\mathrm{.}00\%$ and $15\mathrm{.}02\%.$

A rate between $15\mathrm{.}02\%$ and $16\mathrm{.}37\%.$

Show all of your calculations.