A company is considering two mutually exclusive expansion plans. Plan A requires a $39 million initial outlay on a large

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A company is considering two mutually exclusive expansion plans.
Plan A requires a $39 million initial outlay on a large-scale
integrated plant that would provide expected cash flows of $6.23
million per year for 20 years. Plan B requires a $13 million
initial outlay to build a somewhat less efficient, more
labor-intensive plant with expected cash flows of $2.91 million per
year for 20 years. The firm's WACC is 11%.
Calculate each project's NPV. Enter your answers in millions.
For example, an answer of $10,550,000 should be entered as 10.55.
Do not round intermediate calculations. Round your answers to two
decimal places.
Plan A: $ million
Plan B: $ million
Calculate each project's IRR. Round your answers to one decimal
place.
Plan A: %
Plan B: %
By graphing the NPV profiles for Plan A and Plan B, determine
the crossover rate. Approximate your answer to the nearest whole
number.
%
Calculate the crossover rate where the two projects' NPVs are
equal. Round your answer to one decimal place.
%
Is NPV better than IRR for making capital budgeting decisions
that add to shareholder value?
-Select-YesNo