Consider the capital budgeting decision to be made with the following data about 2 competing projects. Project A has an NPV of $12 500, and IRR of 10% and a payback period of 3 years. Project B has an NPV of $12 000, but an IRR of 13% and a payback period of 2 years 10 months. Which project(s) would be chosen on an independent basis?

Select one:

a. Project B

b. Neither Project A nor Project B

c. Project A and Project B

d. Project A