Projects C and D are mutually exclusive projects. Project C has a NPV of $54,320 and an IRR of 26.45%. Project D has a NPV of $48,609 and an IRR of 32.27%. If the discount rate is 12.54%, how do we make our capitla budgeting decision?

Select one:

a. We should choose Project D because its IRR is higher than that of Project C.

b. We should choose both projects because their NPVs are both greater than zero.

c. We should choose Project C because its NPV is higher than that of Project D.

d. We should choose both projects because their IRRs are both greater than the discount rate.