Project A and B$\text{'}$s cash flows are as follows:

$\backslash$table$[[$Cash flows,Project A$,$Project B$],[$Initial Investment,$-$$$50000,-$$$60000],[$Year$-1,$$$15000,$$$20000],[$Year$-2,$$$20000,$$$25000],[$Year$-3,$$$25000,$$$30000]]$

Calculate IRR for both projects and arrive at the project selection decision giving justifications.