Problem 10-09 (NPVs and IRRs for Mutually Exclusive Projects) ( Question 4 of 8 Check My Work NPVs and IRRs for Mutually Exclusive Projects Davis Industries must choose between a gas-powered and an electric-powered forklift truck for moving materials in its factory. Because both forklifts perform the same function, the firm will choose only one. (They are mutually exclusive investments.) The electric-powered truck will cost more, but it will be less expensive to operate; it will cost \\( \\$ 22,000 \\), whereas the gas-powered truck will cost \\( \\$ 17,500 \\). The cost of capital that applies to both investments is \12. The life for both types of truck is estimated to be 6 years, during which time the net cash flows for the electric-powered truck will be \\( \\$ 6,290 \\) per year, and those for the gas-powered truck will be \\( \\$ 5,000 \\) per year. Annual net cash flows include depreciation expenses. Calculate the NPV and IRR for each type of truck, and decide which to recommend. Do not round intermediate calculations. Round the monetary values to the nearest dollar and percentage values to two decimal places. A project has an initial cost of \\( \\$ 75,000 \\), expected net cash inflows of \\( \\$ 14,000 \\) per year for 12 years, and a cost of capital of \11. What is the project's PI? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to two decimal places