The directors of Indratno and Felix, a partnership of investors, have three independent investment projects before them for consideration. Each will cost $400,000 in the first instance. The net cash inflows in thousands of dollars each year of the projects are projected to be as in the following table. There is thought to be no residual value for any of the projects. The directors work on 10 per cent as being their RRR. Ignore taxation effects and assume all cash flows occur at the end of the relevant years.

Required
a. Calculate the four investment appraisal measures for each project.
b. Rank the projects and advise the directors which projects, if any, to accept and give your reasons.