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You are deciding between two mutually exclusive investment opportunities. Both require the same initial investment of $10.3 million. Investment A will generate $2.17 million per

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You are deciding between two mutually exclusive investment opportunities. Both require the same initial investment of \$10.3 million. Investment A will generate \$2.17 million per year (starting at the end of the first year) in perpetuity. Investment B will generate $1.51 million at the end of the first year, and its revenues will grow at 2.8% per year for every year after that. a. Which investment has the higher IRR? b. Which investment has the higher NPV when the cost of capital is 6.9% ? c. In this case, when does picking the higher IRR give the correct answer as to which investment is the best opportunity

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