Better Health Inc. is evaluating two capital investments, each of which requires an up-front (Year 0) expenditure of $1.5 million. The projects are expected to produce the following net cash inflows:

Year Project A Project B

1 $ 500,000 $ 2,000,000

2 1,000,000 1,000,000

3 2,000,000 600,000

a.) What is each projects IRR?

b.) What is each project's NPV if the opportunity cost of capital is 10%?

Also, please calculate the payback period for both projects. Then, explain which project you would choose and why.