A CFO issued a report comparing two competing projects. She concludes that the NPV of project A is 50 lower than the project B. Please find out the requirement return.

Year	A	B
0	-800	-1,000
1	100	100
2	440	800
3	1,400	1,500

a		15.23 percent
b		19.25 percent
c		32.02 percent
d		46.34 percent
e		32.02 percent