NO.PZ2023052407000009
问题如下：
If you require an 8 percent return and must invest USD500,000, which of the investment opportunities in Exhibit 1 should you prefer?
选项：
A.
Opportunity 1
B.
Opportunity 2
C.
Indifferent between the two opportunities.
解释：
Using cash flow additivity, compare the two opportunities by subtracting Opportunity 2 from Opportunity 1 yielding the following cash flows:
Finding the present value of the above cash flows at 8 percent discount rate shows that both investment opportunities have the same present value. Thus, the two opportunities are economically identical, and there is no clear preference for one over the other.
为何只考以npv比较，而不用irr比较?
