a - 3%, b - 2%, c-4%, d - 3%, Total 12% Consider the following information for two mutually exclusive projects: Criterion Project A Project B Payback period 3.27 years 1.3 years NPV $144,616.49 $8,203.81 IRR 31.06% 38.44% Profitability Index 0.85 0.46 Whichever project you choose, if any, you require a 10% return on your investment and cutoff period is 3 years. a. If you apply the payback criterion, which investment will you choose? Why? b. If you apply the NPV criterion, which investment will you choose? Why? c. If you apply the IRR criterion, which investment will you choose? Why? d. Which investment will finally be chosen? Why