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