8) (15 Points) See the cash flows for a project: 1 Period Cash flow 0-$30,000 $10,000 2 $10,000 3 ? 4 5,000 5 5,000 a) (3 Points) By using crude payback period, calculate the minimum cash flow to justify this investment in 3 years? b) (7 Points) Now we assume that the cash flow for year 3 will be $5,000. By using discounted payback method, calculate the highest interest rate by hand, not to justify this project? (Give rounded interest rates; for example, 5%, 6%, 7%, 8%, etc.). Show your calculations. c)(5 Points) In class, we compared these two payback methods with the other methods we learned earlier (PW, AW, IRR, B/C). Discuss pros and cons of both payback methods compared to these methods. When should and can we use this method