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Consider the two mutually exclusive projects below. What is the appropriate investment decision? Project A Project B Payback 3 years 4 years NPV $13,400 $18,300

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Consider the two mutually exclusive projects below. What is the appropriate investment decision? Project A Project B Payback 3 years 4 years NPV $13,400 $18,300 IRR 21.86% 18.92% Select one: a. Accept A because of the lower payback. b. Accept B because of the higher payback. c. Accept B because of the higher NPV. o d. Accept A bedause of the higher IRR

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