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2. Fitch Industries is in the process of choosing the better of two equal-risk, mutually exclusive capital expenditure projects X and Z. The relevant cash

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2. Fitch Industries is in the process of choosing the better of two equal-risk, mutually exclusive capital expenditure projects X and Z. The relevant cash flow for each project are shown in the following table. The firm's cost of capital is 13 percent. Based on the information given, determine. a. Payback period on each of the projects. b. Net Present Value for each project. (4 marks) (9 marks) c. Profitability Index (PI). (3 marks) d. Summarize the preferences dictated by each measure you calculated and indicate which project you would recommend. Justify your

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