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NPV Your division is considering two projects with the following cash flows (in

ID: 2657874 • Letter: N

Question

NPV Your division is considering two projects with the following cash flows (in millions)

Project A -$27 $13 $17 $8

Project B -$25 $14 $11 $2

What are the projects' NPVs assuming the WACC is 5%? Round your answer to two decimal places. Do not round your intermediate calculations. Enter your answer in millions. For example, an answer of $10,550,000 should be entered as 10.55. Negative value should be indicated by a minus sign.

Project A

$ million

Project B

$ million

What are the projects' NPVs assuming the WACC is 10%? Round your answer to two decimal places. Do not round your intermediate calculations. Enter your answer in millions. For example, an answer of $10,550,000 should be entered as 10.55. Negative value should be indicated by a minus sign.

Project A $ million

Project B $ million

What are the projects' NPVs assuming the WACC is 15%? Round your answer to two decimal places. Do not round your intermediate calculations. Enter your answer in millions. For example, an answer of $10,550,000 should be entered as 10.55. Negative value should be indicated by a minus sign.

Project A $ million

Project B $ million

What are the projects' IRRs assuming the WACC is 5%? Round your answer to two decimal places. Do not round your intermediate calculations.

Project A %

Project B %

What are the projects' IRRs assuming the WACC is 10%? Round your answer to two decimal places. Do not round your intermediate calculations

. Project A %

Project B %

What are the projects' IRRs assuming the WACC is 15%? Round your answer to two decimal places. Do not round your intermediate calculations.

Project A %

Project B %

If the WACC was 5% and A and B were mutually exclusive, which project would you choose? (Hint: The crossover rate is 90.37%.) If the WACC was 10% and A and B were mutually exclusive, which project would you choose? (Hint: The crossover rate is 90.37%.) If the WACC was 15% and A and B were mutually exclusive, which project would you choose? (Hint: The crossover rate is 90.37%.)

Explanation / Answer

Project A:

NPV at 5% = 7.71

NPV at 10% = 4.88

NPV at 15% = 2.42

IRR = 20.67% (for all rates)

Project B:

NPV at 5% = 0.04

NPV at 10% = -1.68

NPV at 15% = -3.19

IRR = 5.10%

choose A for 5%, 10% and 15%

Discount rate 5.0000% Cash flows Year Discounted CF= cash flows/(1+rate)^year Cumulative cash flow                  (27.000) 0                                   (27.00)                                (27.00)                     13.000 1                                     12.38                                (14.62)                     17.000 2                                     15.42                                    0.80                       8.000 3                                        6.91                                    7.71