Two projects being considered are mutually exclusive and have the following projected cash flows: Project A Project B Year Cash Flow Cash Flow 0 $50,000 -$50,000 0 0 1 16,750 16,750 3 16,750 4 16,750 0 5 16,750 109,500 If the required rate of return on these projects is 13 percent, which would be chosen and why? Project B because it has the higher NPV. Project B because it has the higher IRR. Project A because it has the higher NPV. Project A because it has the higher IRR. Neither, because both have IRRs less than the cost of capital