The CFO of XYZ Corporation is evaluating two investment opportunities. Project A requires an initial investment of $70,000 and promises cash inflows of $25,000, $30,000, and $35,000 over the next three years. Project B requires an initial investment of $60,000 with expected cash inflows of $20,000, $25,000, and $30,000 over the next three years. The cost of capital is 10%.

a) Calculate the Net Present Value (NPV) for both projects.

b) Determine the Internal Rate of Return (IRR) for both projects.

c) Which project should the CFO choose based on the NPV and IRR?

d) Explain why relying solely on IRR might be misleading in this scenario.