15 17. 0 15 19 Payback, NPV, and MIRR Your division is considering two investment projects, each of which requires an up-front expenditure of $27 million. You estimate that the cost of capital is 12% and that the investments will produce the following after tax cash flows (in millions of dollars) Year Project A Project B 1 5 20 2 10 10 3 15 B 20 6 a. What is the regular payback period for each of the projects? Round your answers to two decimal places Project A years 20 21. years 3 Project B years b. What is the discounted payback period for each of the projects? Do not reund intermediate calculations, Round your answers to two decimal places, Project A Project: Years c. If the two projects are independent and the cost of captal is 12%, which project or projects should the firm undertake? The firm should undertake both project! d. If the two projects are mutually exclusive and the cost of capital is 5%, which project should the firm undertake? The form should undertake Project e. If the two projects are mutually exclusive and the cost of capital is 15%, which project should the firm undertake? The firm should undertake Project What is the crossover rate Round your answer to two decimal places If the cost of capital is 125, what is the modified TAROMIRA) of each projett? De not round intermediate calculations. Round your answers to two deromat. places Project Protect