A firm is considering two mutually exclusive projects A and B$.$ The firm, which has a $12\%$ cost of capital, has estimated the cash flows from each project as shown in the following table:

Year

A

B

$0$

$-$$$600$

$-$$$800$

$1$

$700$

$0$

$2$

$150$

$100$

$3$

$150$

$1,500$

To do: Calculate each project's NPV and IRR. According to the results, which project$($s$)$ is$($are$)$ acceptable and why?