You were asked to evaluate the following mutually exclusive investment proposals. Cash Flows ($) Year 2 Proposal A B Year 1 Year 0 -97 400 34 000 -63 200 24 000 34 000 24 000 Year 3 34 000 24 000 Year 4 Year 5 34 000 34 000 24 000 24 000 a. If the borrowing cost for both investment proposals is at 8 percent, determine which project(s) should be approved. (10marks) b. Calculate the MIRR of both projects, determine which project(s) should be approved.