3. Randy's Manufacturing is considering two mutually exclusive projects. The company has a required rate of return of 13.5% on projects of this nature. Project A costs $100,000 and has an IRR of 14.5%. Project B costs $150,000 and has an IRR of 14%. Which project should be accepted and why? A) B) C) D) Project A because it costs less and has a higher IRR than Project B Project A because it has the highest IRR of the two projects and exceeds the required return Both projects because both project IRRs are greater than the required retum Project B because it has the lower IRR of the two projects None of the above