You are evaluating two projects. Project A requires an initial investment of $195,000 and will generate annual cash flow of $35,000 forever. Project B requires $170,000 initial investment and will generate annual cash flow of $13,000 in the first year, but its cash flow also grows at 6% per year forever. These projects have a required return of 10%.

Determine which project should be chosen based on:

a) NPV

b) IRR

c) Payback Period

d) Profitability Index

Please show your work.