1. Consider the following four projects: we could have riguted progut with Nev> Anyway to Imp Project Cash flow at yr 0 -5000 -5000 -5000 A B Cash flow at yr 1 2000 3000 4000 Cash flow at yr 3 3000 500 500 Cash flow at yr 2 1000 2000 1000 a. Calculate the payback period for each of the projects. What project should be chosen if the decision is made according to the payback rule? b. Calculate the NPV of each of the project if interest rate is 12% compounded yearly. Which project should be chosen based on the NPV rule? c. Will the IRR for project D be more or less than 12%? Briefly explain. 20 time. red