Lord Business Clothiers is considering two mutually exclusive projects with the following cash flows. What is the crossover rate? If the required rate of return is lower than the crossover rate, which project should be accepted?

Years	Project A	Project B
0	-$50,000	-$50,000
1	31,000	42,000
2	26,000	21,000
3	27,000	18,000

14.72 percent; A

14.72 percent; B

15.99 percent; A

15.99 percent; B

16.08 percent; B

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