ABC Ltd is considering two possible projects but can only raise enough funds to proceed with one of them. Investment appraisal techniques have been used and the following results found: Project AProject BPayback period3. 5 years2. 8 yearsRate of return16%14%NPV+$850000+$710000Which of the following is the most logical interpretation of the results?a. Project A should be selected because it will yield the highest NPV. b. Project A should be selected as it gives the longest payback period. c. Project B should be selected because the payback period is lower. d. The rate of return is the most meaningful investment appraisal technique and hence Project A should be selected.