You are considering two independent projects. Project A has an initial cost of $148,000 and cash inflows of $46,000, $79,000, and $51,000 for years 1 to 3, respectively. Project B costs $148,000 with expected cash inflows for years 1 to 3 of $50,000, $30,000, and $100,000, respectively. The required return for both projects is 16 percent. Based on IRR, you should:

Select one:

a.Reject both projects.

b.Accept Project B and reject Project A.

c.Accept both projects.

d.Accept Project A and reject Project B.

e.Accept either one of the projects, but not both.