Six mutually exclusive projects A, B, C, D, E and F are to be evaluated and selected by a project manager. These projects have been ordered by first costs so that project A has the lowest first cost, project F the largest. Specifically, detailed cash flows for Projects A and B are given below: Project A: Initial Cost of $553,266 with annual benefit of $70,000 for 13 years Project B: initial Cost of $642,350 with annual benefit of $100,000 for 13 years The table below applies to all projects (A through F) and MARR is set as 10%. IRR on Increments of Investment Compared With Project Project IRR on overall Investment A B C D E A ? B ? ? C 11% 9% 9% D 10.5% 11% 9.5% 11% E 19% 16% 11% 14% 9% F 15% 10.5% 9.5% 13% 6% 9.50% First, find IRR for Project A. Second, decide whether you need to calculate the IRR for Project B or to calculate the IRR for the Increment from A to B. Lastly, determine which project should be selected based on the Increment IRR approach. First, find IRR for Project A. Second, decide whether you need to calculate the IRR for Project B or to calculate the IRR for the Increment from A to B. Lastly, determine which project should be selected based on the Increment IRR approach. Select 2 correct answer(s) IRR(Project A) = 6% IRR(Project A) = 7% IRR(Project A) = 8% IRR(Project A) = 9% Final selection is Project C Final selection is Project D Final selection is Project E Final selection is Project F