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The financial manager at Johnson & Smith estimates that its required rate of return is 11%. Which of the following independent projects should Johnson & Smith accept? A. Project A requires an up-front expenditure of $1,000,000 and generates an NPV of -$4,600. B. Project C requires an up-front expenditure of $600,000 and generates a positive internal rate of return of 12.0%. C. Project B requires an up-front expenditure of $800,000 and generates a positive IRR of 10.5%. |