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Jack Smith, CFA, is analyzing independent investment projects X and Y. Smith has calculated the net present value (NPV) and internal rate of return (IRR) for each project:
Project X: NPV = $250; IRR = 15% Project Y: NPV = $5,000; IRR = 8%Smith should make which of the following recommendations concerning the two projects? A. Accept both projects. B. Accept Project X only. C. Accept Project Y only. |