If the IRR of Alternative \(A\) is 18 percent, the IRR of Alternative B is 16 percent, and MARR is 12 percent, which of the following is correct?

a. Alternative B is preferred over Alternative A.

b. Alternative \(A\) is preferred over Alternative \(B\).

c. Not enough information is given to determine which alternative is preferred.

d. Neither Alternative A nor Alternative B is acceptable.