You are deciding between two mutually exclusive investment opportunities. Both require the same initial investment of $10.1 million. Investment A will generate $2.16 million per year (starting at the end of the first year) in perpetuity. Investment B will generate $1.55 million at the end of the first year, and its revenues will grow at 2.5% per year for every year that.

a.) Which investment has the higher IRR? The IRR of investment A is (Round to the nearest integer.) The IRR of investment B is (Round to the nearest integer.) Which project has the higher IRR? Project

b.) Which investment has the higher NPV when the cost of capital is 5.5%? The NPV of investment A is million. (Round to two decimal places.) The NPV of investment B is million. (Round to two decimal places.) You should pick investment .