The following table summarizes information for four projects: Project First cost IRR on total IRR on increments of investment compared with (overall) investment project $1 00,000 | | 9% 175,000 | 1 5% 200,000 | 18% 250,000 | 16% 8% 17% 12% 2290 17% 4 13% The data can be interpreted in the following way: The IRR on the incremental investment between project 4 and project 3 is 13%. (i) If projects are independent, which projects should be undertaken if the MARR is 14% (ii) If the projects are mutually exclusive, which project should be undertaken if the MARR is 14%? Describe your logic for the answer. (iii) If the projects are mutually exclusive, which projects should be undertaken if the MARR is 15%? Indicate what logic you have used