3) Your client is investigating to projects that operate in the same mining sector in Australia However, your client is not sure which one to invest in and his sent the relevant details to you to vise upon. The characteristics of the two projects are given below Initial Olay (10) Annual Cash Floss CP Life span Project 1 574,000,000 520.000.000 years Project 2 550.000.000 $12.000000 14 years Back Notes All annual cash flows are after-tax and depreciation 1) A discount rate of 184pa is estimated in the risk in both of these projects Your client wishes you to provide detailed calculations indicating which project you believe to be the best. The client will then decide to invest in one of the projects (12 marks) o O 6IP