Explain step by step calculation process to get the answer (c).

Consider the following two projects and assume a discount rate of 3% (and zero inflation): Year Benefits in S) in period: 1 2 30 41 12 45 0 -100 -100 3 56 71 Project A Project B Assume you only have 100 to invest. Consider the following two propositions: Proposition I: NPV of Project A is equal to NPV of Project B (at the one-digit level). Proposition II: If the discount rate increases to 4%, the NPV of Project B will be higher than the NPV of Project A. Which one of the following statements is true? a. Both proposition I and II are true. b. Both proposition I and II are false. c. Proposition I is true, but proposition II is false. d. Proposition I is false, but proposition II is true