3. The following information are given for three investment opportunities (A,B,C) which require equal amount of investments at time zero but with different annual net cash inflows on years 1 to 5. Conceptually, which investment is most favorable to the firm considering time value of money? Justify (15 points) . Time 0 (4,000,000) Yr 1,000,000 42 1,000,000 Y3 1,000,000 Yr4 1,000,000 Y15 1,000,000 . YU Time 0 (4,000,000) Y2 800,000 413 1,000,000 Yr4 1 200,000 500.000 Y15 1,500,000 C. Y12 Time 0 (4,000,000) Y1 1,500,000 1,200,000 Y3 1.000.000 Yr4 800,000 Y15 500.000