The following are two independent projects that you are evaluating. the first project has cash flows of −$161,900, $60,800, $162,300, and -$75,000 for years 0 to 3, respectively. the second project has cash flows of −$175,600, $261,800, -$165,000, $145,000 and -$75,000. which of these, best summarizes your situation?
a. project 1 has 2 irrs and project 2 has 2 irrs. therefore, we should not use irr to evaluate the projects.
b. project 1 has 1 irr and project 2 has 2 irrs. therefore, we should use irr only to evaluate project 1.
c. project 1 has 2 irrs and project 2 has 3 irrs. therefore, we should not use irr to evaluate the projects.
d. project 1 has 3 irrs and project 2 has 4 irrs. therefore, we should not use irr to evaluate the projects.
e. none of the above is correct.

Afirm wants to hire a project manager (pm) at a salary of $100,000. 30% of pms have high ability, and 70% of pms have low ability. high ability pms generate $120,000 in revenue and low ability pms generate $80,000 in revenue. in addition to differences in productivity, high and low ability pms have different outside offers. if a high ability pm is not hired by the firm, she can work for another company at a salary of $80,000. if the low ability pm is not hired by the firm, she can work for another company for $70,000. high ability pms are also able to get a project management professional (pmp) certification at a cost of $1,000. low ability pms are unable to get a pmp certification (they would fail the test). the firm is not able to observe a pm’s ability, but is able to observe and verify whether or not the pm has a pmp certificate.(a) draw the extensive form of the game. expert answer