ABC Ltd is considering two possible projects but can only raise enough funds to proceed with one of them. Investment appraisal techniques have been used and the following results found: Project A Project B Payback period 3.5 years 2.8 years Rate of return 1696 1496 NPV +$850000 +$710000 Which of the following is the most logical interpretation of the results? O a. The rate of return is the most meaningful investment appraisal technique and hence Project A should be selected. O b. Project A should be selected as it gives the longest payback period. O c. Project B should be selected because the payback period is lower. O d. Project A should be selected because it will yield the highest NPV