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Cochran Corporation has a weighted average cost of capital of11% for projects of average risk.Projects of below average riskhave a cost of capital of 9% , while projects of above risk have acost of capital equal to 13%.Projects A and B aremutually exclusive,whereas all other projects areindependent.None of the projects will be repeated.The followingtable summarizes the cash flows, IRRs and risk levels of theprojects.Which projects will the firm select for investment usingboth NPV and IRR criteria ?Year(t) Project A ProjectB ProjectC ProjectD Project E 0 $-200,000 -100,000 -100,000 -100,000 -100,000 1 66,000 30,000 30,000 30,000 40,000 2 66,000 30,000 30,000 30,000 25,000 3 66,000 40,000 30,000 40,000 30,000 4 66,000 40,000 40,000 50,000 35,000IRR 12.110% 14.038% 10.848% 16.636% 11.630%ProjectRisk Below Below Average Above Above Average Average Average Average