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Bellinger Industriesis considering two projects for inclusion in its capital budget,and you have been asked to do the analysis. Both projects'after-tax cash flows are shown on the time line below.Depreciation, salvage values, net operating working capitalrequirements, and tax effects are all included in these cash flows.Both projects have 4-year lives, and they have risk characteristicssimilar to the firm's average project. Bellinger's WACC is 12%.01234Project A-1,110790350250300Project B-1,110390285400750What is Project A’sIRR? Do not round intermediate calculations. Round your answer totwo decimal places.%What is Project B'sIRR? Do not round intermediate calculations. Round your answer totwo decimal places.%part twoA firm is consideringtwo mutually exclusive projects, X and Y, with the following cashflows:01234Project X-$1,000$100$320$370$700Project Y-$1,000$900$100$55$50The projects areequally risky, and their WACC is 11%. What is the MIRR of theproject that maximizes shareholder value? Do not round intermediatecalculations. Round your answer to two decimal places.%