3. Your client is investigating two start-up companies that operate in the same telecommunications sector in Australia. These two companies are investigating similar projects (not both) in which they will invest. However, your client is not sure which is better and has sent the relevant details to you for advice. The characteristics of the two systems are given below Initial Outlay (IO) Annual Cash Flows (CF) Life of system Project 1 $13,000,00 S3,500,000 8 years Project 2 $18,000,000 $6,000,000 5 years Notes All cash flows are after tax and depreciation. 2) A flat rate of 14% is estimated as the risk in both of these projects. Yoru clhcen wishes you cd slculaiih believe to be the best. The client will then decide whether to invest into the company looking to invest in the project