4. (3 points) A company is evaluating potential expansions in two of its markets. The required return for both expansions is 12%; their estimated cash flows are as follows: Year 0 1 2 3 4 5 Market A 90 150 300 350 450 (800) (450) Market B 200 180 100 90 80 Capital budgeting metrics have been calculated as shown below: NPV IRR PI Payback Market A $91.2 15.5% 1.11 3.7 yrs. 2.7 yrs. Market B ? 16.9% ? (a) For the expansion in Market B, what are the (i) NPV? (ii) Profitability index (PI)? (b) If the company can afford to invest in only one of these expansions, which should it invest in? On which measure(s) do you base your recommendation? Do any of the measures argue against your recommendation? If so, why would you disregard them