3. Your company has to choose between the two following projects. The required rate of return is 10%. a. Year 0 1 C. 2 3 Project I -$65,000 31,500 31,500 31,500 Calculate the profitability index for both projects. b. Calculate the net present value (NPV) for both projects. Calculate the internal rate of return (IRR) for both projects. d. Which project should you choose? Why? Project II -$49,800 24,900 24,900 24,900 (4 marks) (4 marks) (5 marks) (3 marks)