Project 10 1 -35,000 6,500 7,700 35,000 8,300 7,700 12.000 12,0DO 15,500 13,500 The IRRs for Project 1 and Project 2 are 6.36% and 6.51%, respectively. It Project 1 and Project 2 are mutually exclusive and their cross-over rate is 3.57%, which of the following statement is correct? Select one: O a. When the discount rate is 5%, select projed 1. O b. When the discount rate is 8%, select project 2 O c. Always select project 2 because it has a higher IRR. O d. When the discount rate is 3%, select project 1. O e. Always select project 1 because it has a lower IRR