1. Year Project X Project Y 0 ($50,000) ($80,000) 1 $25,000 $45,000 2 $20,000 $35,000 3 $20,000 $17,000 4 $15,000 $15,000 5 $10,000 - A. Calculate the payback for both projects. B. Explain which project should be selected, if payback is the only criterion used - and why. C. Calculate ARR for both projects. D. The business has a cut-off or criterion rate of 11% for all new projects. Would either project be acceptable with this restriction? E. Taking both the results of payback and ARR together, which project would you advise the business to invest in and why? F. If the cost of capital is 8% calculate discounted cash flow and NPV for both project X and Y