Suppose Walmart is considering two projects $($Project A & Project B$)$

Project A: This project is the introduction of a new product. It will require an upfront investment of $10$ million dollars. At the end of year $1,$ the project will generate $2\mathrm{.}5$ million dollars in FCFs$.$ At the end of year $2,$ the project will generate $2\mathrm{.}6$ million dollars in FCFs$.$ At the end of year $3,$ the project will generate $2\mathrm{.}7$ million dollars in FCFs$.$ At the end of year $4,$ the project will generate $2\mathrm{.}8$ million dollars in FCFs$.$ At the end of year $5,$ the project will generate $3\mathrm{.}0$ million dollars in FCFs$.$ The project will generate no more FCFs after year $5.$

Project B: This is an expansion of the company$$s main office. This project will require an upfront investment of $4\mathrm{.}5$ million dollars. In year $1,$ the expansion will generate $0\mathrm{.}5$ million dollars in$.$ After the first year, FCFs will grow by $2\%$ each year forever.

$34.$ Calculate the IRR of each project.

$35.$ Calculate the NPV of each project

$36.$ Calculate the Payback Period of each project.

$37.$ Suppose the two projects are independent. Which $($if any$)$ should the company accept? Why?

$38.$ Suppose instead the two projects are mutually exclusive, and the company can only accept one project. Which project should the company accept why?