You are the project manager for the Jazz by the Bay Club(JCB) chain, with stores in 12 states. JBC is considering opening a new club in Kansas City or New Jersey. You have derived the following information: Project Kansas City: The payback period is 27 months, and the IRR is 35 percent. Project New Jersey: The payback period is 25 months, and the IRR is 32 percent. Which project should you recommend to the selection committee?

A)Project Kansas City, because the IRR is the highest
B)Project Kansas City, because the payback period is the longest
C)Project New Jersey, because the IRR is the lowest
D)Project New Jersey, because the payback period is the shortest

Answer is A. Please provide the explanation for this. I am confused whether to take the project between high IRR / less pay back period