(NPV, Pl, and IRR calculations) You are considering two independent projects, project A and project B. The initial cash outlay associated with project A is $50,000, and the initial cash outlay associated with project B is $70,000. The required rate of return on both projects is 9 percent. The expected annual free cash inflows from each project are in the popup window: Calculate the NPV, PI, and IRR for each project and indicate if the project should be accepted. (Round to the nearest cent.) What is the NPV of project B? (Round to the nearest cent.) Based on the NPV criterion, project A should be because its NPV is and project B should be because its NPV is (Select from the drop-down menus.) b. What is the Pl of project A ? (Round to three decimal places.) What is the Pl of project B? (Round to three decimal places.) Based on the PI criterion, project A should be because its P/ is than 1.00 and project B should be because its P/ is than 1.00. (Select from the drop-down menus.) c. What is the IRR of project A ? % (Round to two decimal places.) Data table (Click on the following icon in order to copy its contents into a spreadsheet.)