PLEASE ANSWER PARTS a$,$b$,$ and c ACCURATELY.

You are deciding between two mutually exclusive investment opportunities.

Both require the same initial investment of $$9\mathrm{.}6$ million. Investment A will

generate $$2\mathrm{.}01$ million per year $($starting at the end of the first year$)$ in

perpetuity. Investment B will generate $$1\mathrm{.}47$ million at the end of the first year,

and its revenues will grow at $2\mathrm{.}7\%$ per year for every year after that.

a$.$ Which investment has the higher IRR?

b$.$ Which investment has the higher NPV when the cost of capital is $7\mathrm{.}8\%?$

c$.$ In this case, when does picking the higher IRR give the correct answer as to

which investment is the best opportunity?

a$.$ Which investment has the higher IRR?

The IRR of investment $A$ is $\%.($Round to two decimal places.$)$