Project A has an IRR of 15%. Project B has an IRR of 14%. Both projects have a required rate of return of 12%. Which of the following statements is most correct?
a. Both projects have a positive NPV.
b. Project A must have a higher NPV than Project B.
c. If the required return wereless than 12%, Project B would have a higher IRR than Project A.
d. Project B has a higher profitability index than Project A.