ocr: Question The three projects are regarded as being equally risky and hence the cash flows from all three projects should be discounted at the identical discount rate of 15%. Note also that project A gives relatively high cash intlows in the early years, project B demonstrates constant cash intlows (E550) over its life, and project C gives relatively high cash intlows in its later years. The user should now perform a thorough investment appraisal on all three projects using the four techniques which were covered earlier in the module. By using the IRR and NPV unctions available on most spreadshe ...