Projects A and B are mutually exclusive and both have an initial cost of $60,000. Project A has annual cash flows for three years of $28,100, $32,500, and $43,200, respectively. Project B has annual cash flows for three years of $27,900, $31,000, and $45,000. What is the crossover rate?

Select one:

a.5.86 percent

b.1.68 percent

c.6.16 percent

d.5.23 percent

e.9.20 percent