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Two mutually exclusive projects have the following positive NPVs and project lives.Project NPV Life Project A $ 5,000 3 Years Project B $ 6,500 5 YearsIf the cost of capital were 15 percent, which project would you accept?A: Project A, because it has higher EACB: Project B, because it has higher NPVC: Project A, because its NPV can be earned more quicklyD: Project B, because it has higher EAC
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