3. Summit Industrial Construction, LLC provides industrial construction services to customers in power, hydrocarbons, chemical, pulp and paper, minerals and mining, and cryogenics industries. Summit has two mutually exclusive projects. The company has used a 4-year cutoff for projects. The required return is 12%. Summit Industrial Construction LLC Project A Year Cash Flow ($364,000) 1 $98,400 2 $89,300 3 $105,000 4 $148,600 5 $252,000 ON Year ON 1 2 3 4 5 Project B Cash Flow ($370,000) $158,300 $99,500 $123,600 $166,800 $109,100 a. Calculate the payback period for both projects. Which project would you select? b. Calculate the NPV for both projects. Which project would you select? c. Which project should the company accept overall? (60 POINTS)