The forecast net cash flows of two mutually exclusive projects, A and B, are shown in the following table. Year (end) Project A Project B 0 ? $55,000 ? $35,000 1 $26,000 $25,100 2 $12,500 $16,900 3 $44,400 $17,500 4 $26,200 $11,600 5 $13,200 $8,250 The NPV and IRR methods must give conflicting ranks for these projects if: a) The required rate of return is less than 25% pa. b) The required rate of return is greater than 25% pa. c) The required rate of return is between 35% pa and 45% pa. d) None of the above.