Based on IRR, which project, if either, should be accepted and why? Based on the payback period, which project, if any, should be accepted if the cutoff point is 2.2?
a) Project A should be accepted based on IRR; Project B should be accepted based on payback period.
b) Project B should be accepted based on IRR; Project A should be accepted based on payback period.
c) Both projects should be accepted based on IRR; Neither project should be accepted based on payback period.
d) Neither project should be accepted based on IRR; Both projects should be accepted based on payback period.