4 A firm faces the issue of which investments to undertake. There are three projects, A, B and C, each with a horizon (duration) of 10 years. For each of the three projects, financial management has already computed the decision-relevant measures of profitability as depicted in the table below. These computations already incorporate issues such as taxes and inflation. There is no risk or uncertainty involved and the projects' returns are independent. [12 marks] 3.3 PV of Initial Project future Cash NPV MIRR PB DPB Investment Flows A 4,6700 47200 390 12.52% 4.5 B 9200 10100 810 12.94% 2.1 3.2 5000 5400 330 12.74% 5.2 For each of the following scenarios, derive and explain which project should be implemented, and what the overall attainable NPV for the firm is. 6.1 (a) Projects are mutually exclusive, not scalable, and there are no capital constraints. [4 marks] (b) Projects are not mutually exclusive, not scalable, and the firm can raise at most 11000 in capital to finance initial investments. [4 marks) (c) Projects are not mutually exclusive, but are arbitrarily scalable, and the firm can raise at most 10000 in capital to finance initial investments