ABC Ltd is considering two possible projects but can only raise enough funds to proceed with one of them. Investment appraisal techniques have been used and the following results found: Project A Project B Payback period 3.5 years 2.8 years Rate of return 16% 14% NPV +$850000+$710000 Which of the following is the most logical interpretation of the results? a. Project B should be selected because the payback period is lower. O b. Project A should be selected as it gives the longest payback period. O c. The rate of return is the most meaningful investment appraisal technique and hence Project A should be selected. O d. Project A should be selected because it will yield the highest NPV