A company is considering two projects, A and B, with the following projected cash flows and IRRs:

Year	Project A Cash Flow ($)	Project B Cash Flow ($)
0	-50,000	-70,000
1	20,000	25,000
2	30,000	35,000
3	40,000	50,000
IRR	22%	24%

The company's cost of capital is 10%.

a) Calculate the NPV of each project. b) Which project should be chosen based on NPV? c) Explain why NPV is a better measure than IRR. d) If the cost of capital increases to 15%, how would the decision change?