Table 10.3
A firm is evaluating two projects that are mutually exclusive with initial investments and cash flows as follows: 
-The new financial analyst does not like the payback approach (Table 10.3) and determines that the firm's required rate of return is 15 percent. Based on IRR, his recommendation would be to ________.
Definitions:
Marginal Revenue
Marginal revenue is the additional income received from selling one more unit of a good or service, crucial for determining the optimal production level and pricing strategies for businesses.
Perfectly Competitive
A market structure characterized by a large number of buyers and sellers, homogenous products, and easy entry and exit from the market.
Price Takers
Entities that have no power to influence the market price of the product they are selling or buying; they accept the prevailing market price.
Marginal Revenue
The extra revenue generated by the sale of an additional unit of a product or service.
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