A company with $20,000,000 to invest is considering two possible investment projects. Below we set out the anticipated cash flows for each project. Year Project A ($000) Project B ($000) 0 (20,000) (20,000) 1 1,090 1,020 2 2,600 2,700 3 9,090 5,600 4 7,980 11,590 5 8,470 6,470 The company's required rate of return is 8% and its desirable payback period is 3 years. a. For each of the above projects you are required to calculate their NPV and payback period. b. Describe one other investment appraisal technique the company might have used and discuss why. c. Discuss the strengths and weaknesses of each of the investment appraisal techniques in a). d. Based upon the calculations in a), recommend which project the company should adopt if any. Give reasons for your decision. ||