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The Weston Corporation is analyzing projects A, B, and C as possible investment opportunities. Each of these projects has a useful life of five years. The following information has been obtained: Project A Project B Project C Initial investment required $500,000 $480,000 $630,000 Present value of future cash inflows $675,000 $520,000 $690,000 Internal rate of return 18% 14% 16% Which of the following statements is correct? Please show calculations to support your choice. (Answer: D) A. Project B is preferred over Project C according to the project profitability index. B. Project B is preferred over Project A according to the internal rate of return. C. Project B is preferred over Project C according to the project profitability index. D. Project A is preferred over Project C according to the internal rate of return