Please make sure to include detailed step-by-step calculations. If possible, describe your thought process in each step so I can learn the methodology for future problems. Will leave a thumbs up if the answer is detailed! Thank you :)

You are presented with two proposals, A and B, with equal risks that require initial investments of $9,000 and $7,000. Subsequent net cash inflows are given as follows: (a) Assuming 14% cost of capital, rank the two projects in terms of: (i) Internal rate of return, and (ii) Net present value. (b) How do you account for the differences in ranking? Which project do you prefer? Why