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 $728,632 with annual benefit of $80,000 for 15 years Project B: initial Cost of $790,999 with annual benefit of $110,000 for 15 years The table below applies to all projects (A through F) and MARR is set as 10%. Project IRR on overall Investment IRR on Increments of Investment Compared With Project A B C D E A ? B ? ? 12% 9% 10.5% D 10.5% 11% 9.5% 9.5% E 8% 16% 11% 9% 9% F 10% 10.5% 9.5% 9.5% 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. 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