Two projects are given with a required return of 12%. NOTE: See below, do NOT calculate, interpet!

Year	Project A	Project B
0	$ (20,000)	$ (20,000)
1	$ 12,000	$ 7,000
2	$ 10,000	$ 9,000
3	$ 5,000	$ 13,000
NPV	$ 2,245	$ 2,678
IRR	19.4%	18.9%

Group of answer choices

choose Project B, IRR is not reliable due to timing of CFs

choose Project B, IRR is not reliable due to project scale

choose Project A, IRR is greater