3. Jurunai International Berhad, a large stock-exchange-listed company, is evaluating 3 investment proposals to expand their business. The research and development division has prepared forecast relating to cah flow that will be generated from each project as shown in table below:- Given the following four projects and their cash flows, a. calculate the NPV for each project i. 5% discount rate, and ii. 10% discount rate (12 marks) b. Calculate the payback period for each project and which projects do you reject with a three year cut-off period for recapturing the initial cash outflow? (9 marks) c. Describe FOUR (4) disadvantages of using Payback Period as investment appraisal tool