A company has the possibility of investing in two projects lasting one year, the flows of which are as follows:

Project	Flow today	Flow in 1 year
1	- 10000	15000
2	- 5000	7000

The company also has the possibility of investing in a third project which requires an investment of 40,000 and generates flows corresponding to an annual and perpetual income increasing at the rate of 8%. The first flow of 1000 will take place in a year.

The risk-free interest rate is 10%.

1. In which project(s) should the company invest according to the NPV criterion?

2. In which project(s) should the company invest according to the criteria of the Rate of return (TRI) and the Profitability Index (PI)?

Formulas and calculations please