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Mars Engineering Industries must choose between a gas-powered and an electric- powered generator for their factory....

Mars Engineering Industries must choose between a gas-powered and an electric-
powered generator for their factory. Both generators perform the same function. The
electric-powered generator will cost $20,000 and the gas-powered generator will cost
$16,500. The life of each type of generator is estimated to be 5 years during which
time the net cash flow per year for gas-powered generator will be $5,000 and that for
electric-powered generator will be $6,500. The cost of capital for Mars is 13%.
Calculate IRR and MIRR for each generator and decide which to recommend.

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