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A company has an investment budget of $7 million and is considering two independent projects with a useful life of 2 years

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A company has an investment budget of $7 million and is considering two independent projects with a useful life of 2 years. Project A has an initial cost of $2.2 million and present value of expected cash flows of $1.1 million and $1.21 million at the end of years 1 and 2, respectively. Project B has an initial cost of $4.4 million and present value of expected cash flows of $2.2 million and $2.42 million at the end of years 1 and 2, respectively. Which project(s) should the company accept if the discount rate is 10%?