Consider the following cash flows of two mutually exclusive projects for a company. Assume the discount rate for the company is 10 percent. (5pts)

Year	A	B
0	-$1,400,000	-$600,000
1	900,000	300,000
2	800,000	500,000
3	700,000	400,000

a. Based on the payback period, which project should be taken?

b. Based on the NPV, which project should be taken?

c. Based on IRR, which project should be taken?

d. Based on this analysis, is incremental IRR analysis necessary? If yes, please conduct the analysis.