Three mutually exclusive alternatives with capital investment and internal rate of return (IRR) values as follows: A = ($76,000, 15.6%); B = ($98,000, 14.6%); and C = ($104,000, 14.9%). The IRR of the incremental cash-flows were computed as follows: IRR (B A) = 16.5%; IRR (C A) = 12.5%; and IRR (C B) = 12.9%. Assuming MARR = 12%, which alternative must be selected?

a.

All alternatives

b.

Alternative A

c.

Alternatives A and C

d.

Alternative C

e.

Alternative B