Capital budgeting criteria: mutually exclusive projects A firm with a WACC of 10% is considering the following mutually exclusive projects: 0 1 2 3 4 5 Project A -$500 $45 $45 $45 $220 $220 Project B -$600 $300 $300 $50 $50 $50 Which project would you recommend? Select the correct answer. I. Neither A or B, since each project's NPV < 0. II. Both Projects A and B, since both projects have NPV's > 0. III. Both Projects A and B, since both projects have IRR's > 0. IV. Project B, since the NPVB > NPVA. V. Project A, since the NPVA > NPVB.