An investment analyst needs to make a decision on two independent projects with a useful life of 5 years each. The capital investment budget is $25 million. Project A: Initial investment of $10 million and annual cash flows of $3 million on years 1 to 5. Project B: Initial investment of $12 million and annual cash flows of 3.5 million on years 1 to 5. If the discount rate is 10%, what would be the best decision?

Select one: a. choosing both projects b. choosing project A c. choosing project B d. choosing neither project