You are deciding between two mutually exclusive investment opportunities. Both require the same initial investment of 9.8 million $ . Investment A will generate 2.02 million $ per year (starting at the end of the first year) in perpetuity. Investment B will generate 1.54 $ million at the end of the first year, and its revenues will grow at 2.7 % 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 5.3 %? c. In this case, when does picking the higher IRR give the correct answer as to which investment is the best opportunity?