Your division is considering two investment projects, each of which requires an upfront expenditure of $15 million. You estimate that the investments will produce the following net cash flows:
![2219_tt.PNG](https://secure.tutorsglobe.com/CMSImages/2219_tt.PNG)
a. What are the two projects' net present values, assuming the cost of capital is 5%? 10% ? 15% ?
b. What are the two projects' IRRs at these same costs ofcapital?