12. A firm is considering two projects. Both have an initial investment of $1,000,000 and pay off over the next five years in this fashion. The cost of capital is 6%. LO 15-6 connect Option 1 Option 2 Year o -1,000,000 1,000,000 Year 1 1,000,000 250,000 Year 2 250,000 Year 3 250,000 Year 4 o 250,000 100,000 250,000 Year 5 a. Which of these has a faster payback period? b. Which of these options has a higher net present value? c. Which of these options has a higher internal rate of return (IRR)