You are choosing between two projects. The cash flows for the projects are given in the following table ($ million): Project A B Year 0 - $51 - $98 Year 1 $27 $21 Year 2 $19 $41 Year 3 $21 $48 Year 4 $17 $60 a. What are the IRRs of the two projects? b. If your discount rate is 5.3%, what are the NPVs of the two projects? c. Why do IRR and NPV rank the two projects differently? You have just been offered a contract worth $1.06 million per year for 5 years. However, to take the contract, you will need to purchase some new equipment. Your discount rate for this project is 11.7%. You are still negotiating the purchase price of the equipment. What is the most you can pay for the equipment and still have a positive NPV? The most you can pay for the equipment and achieve the 11.7% annual return is $ million. (Round to two decimal places.)