Year Project A Project B

$0$$ $5,300$$ $2,900$

$12,0001,100$

$22,8001,800$

$31,6001,200$

a$.$ Compute the IRR for the cash flows of the above two independent projects. $($Do not round intermediate calculations. Round the answers to $2$ decimal places. Omit $\text{'}\%\text{'}$ sign in your response.$)$

Internal rate of return

Project A

$\%$

Project B

$\%$

b$.$ Which, if either, of these projects should be chosen if the appropriate discount rate is $10$ percent?

multiple choice

Project A

Project B

Both projects

Neither project