1. As a financial analyst at Glencolin International, you have been asked to evaluate two capital investment alternatives submitted by the production department of the firm. Before beginning your analysis, you note that company policy has set the cost of capital at 15% for all proposed projects. As a small business, GI pays corporate taxes at the rate of 30%. The proposed capital project calls for developing new computer software to facilitate partial automation of production in GI's plant. Alternative A has initial software development costs projected at $250,000, while Alternative B would cost $360,000. Following are the expected cash flows from both alternatives. As the capital budgeting analyst, you are required to calculate the payback period, mternal rate or return (IRR), and the net present value of the proposed alternatives