ZZZ Best (ZZZ) is considering two mutually exclusive projects with the annual cash flows shown below.

	Project A	Project B
CF0	-88,000	-113,000
CF1	45,000	40,000
CF2	33,000	50,000
CF3	42,000	65,000
IRR of Project
NPV @ 8%
NPV @ 18%
Crossover Point
NPV at Crossover Point

What is the IRR of each project? IRR of A______________ IRR of B_______________

If ZZZs required rate of return for these projects is 8% which project should it choose based on NPV? ________________________

Which project should it choose if the required rate of return is 18% based on NPV? _____________

At what required rate of return should it be indifferent to the choice of projects, based solely on their NPV? __________________________

What is the Discount rate above which neither project should be accepted? ________________