Given the data below about two mutually exclusive projects with conventional cash flows and the same initial outlay, which one of the following statements about the two projects is correct?

NPV@ r =0% IRR Project A $3,350 24% Project B $2,775 18%

a. At any interest rate less than or equal to 18%, Project B has a NPV greater than or equal to 0 and Project B's NPV is greater than Project A's NPV.

b. At any interest rate less than or equal to 24%, Project B has a NPV greater than or equal to 0 but Project B's NPV is less than Project A's NPV.

c. At r = 12%, Project A is preferred to Project B.

d. At any interest rate (r) greater than 24%, Project A has a positive NPV and is preferred to Project B.

e. At any interest rate between 18% and 24%, Project B is preferred to Project A.