Assume that a firm is faced with the prospect of choosing between two mutually exclusive investments whose cash flows; timing, NPV, and IRR are given as following. (A required rate of 8% is assumed for NPV computation.)

• 假设一家公司正考虑两项互斥项目,它们的现金流量、时间、净现值和内含报酬率如下(假设按8%25的利率计算净现值)。