(a) Pine Company Ltd is considering investing in three mutually exclusive projects whose details are as follows: Year end Machine X -400 240 80 40 (shs 'million) Machine Y -(400) 20 40 Machine z -200 120 40 20 80 10 5-10 each 40 240 40 (11) (iii) What do the terms "mutually exclusive" and "independent" in capital budgeting mean? (4 marks) Using the payback method, advise Pine. (6 marks) By comparing X versus Yand X versus Z, explain why the answer in (ii) above can be misleading. (4 marks)