You are deciding between two mutually exclusive investment opportunities. Both require the same initial investment of $ $10\mathrm{.}4$ million. Investment A will generate $ $1\mathrm{.}98$ million per year$($starting at the end of the first$$ year$)$ in perpetuity. Investment B will generate $ $1\mathrm{.}48$ million at the end of the first$$ year, and its revenues will grow at $2\mathrm{.}8\%$ 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 $5\mathrm{.}7\%?$

c$.$ In this$$ case, when does picking the higher IRR give the correct answer as to which investment is the best$$ opportunity?