Texts: Panhandle Corp. is considering three projects. Each project has an initial outlay of $424,000. Project A is expected to earn $38,000 in year one, $98,000 in year two, $65,000 in year three, and $263,000 in year four. Project B is expected to earn $125,000 per year for four years. Project C is expected to earn $548,000 in year four. The WACC is 6%. Which project provides the best return?
Project B has the best NPV and IRR.
Project B has the best NPV and Project C has the best IRR.
Project B has the best IRR and Project C has the best NPV.
Project C has the best NPV and IRR.