The following information on four mutually exclusive projects is given here. All four projects have the same service life and require investment in year 0 only one. Suppose that you are provided with the following additional information about incremental rates of return between projects.
IRR(B — A) = 85%
IRR(D — C) = 25%
IRR(B — C)  = 30%
IRR(A — D) = 50%
Which project would you choose based on the rate- of-return criterion at a MARR of 29%?

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TABLE P7.51 Project A B C D Required Investment at Year ( 1000 1200 1500 2500 IRR 56% 67% 43% 49%