AccountingYou are a financial analyst for J Ltd$.$ The director of capital budgeting has asked you to

analyse two proposed capital investments, Projects C and D$.$ Each project has a cost of

$$20,000$ and a cost of capital of $15\%.$ The projects' net cash flows are as follows:

$($a$)$ Calculate $($i$)$ each project's payback period

$($ii$)$ each project's NPV

$($b$)$ Which project or projects should be accepted if they are independent?

$($c$)$ Which project should be accepted if they are mutually exclusive?