3. Consider the following three projects; assume 14 percent discount rate. I Period Project A ....... Project B Project C| -T=0> > ($5,000) ($6,000) ($2,500) T=1 $1,000 $1,500 $9001 -T=2 $1,200 $900|| -T=3 > $1,500 $2,500 $200|| -T=4> $2,800 > $1,900 $500 > T-5 > > > $2,800 > - $1,900 $500 | > | a. Calculate the Payback Periods of each project. Ifyou have to choose only one project, which project should be chosen and Why? I | $1,500 b. - Calculate the NPV and PI of each project