1. Consider the following two mutually exclusive projects (E and F) available to you: Cash Flow (F) - $ 260,000 Year 0 1 2 3 IRR Cash Flow (E) -$ 340,000 220,000 108,000 69,000 10.23% 54,000 88,000 185,000 10.15% Whichever project you choose, if any, you require an 8 percent return on your investment. a. (6 marks) Calculate the payback period for each project. b. (6 marks) Calculate the net present value (NPV) of each project c. (3 marks) Based on your calculated answers above about Payback Period, NPV as well as the given IRR, which project will you finally choose? Why