You have to decide between projects A and project B. No project is not an option. The cash flows are as follows:

Project A: t=0: -9000; t=1: -2200; t=2: 4000; t=3: 2057

Project B: t=0: -8000; t=1: -4480; t=2: 4000; t=3: 3644

Find the IRR of the incremental project. MARR=15%. Choose the best answer.

a)	7%
b)	8%
c)	9%
d)	22%
e)	23%
f)	24%