(a)Hardware Co. plans to undertake one of the two alternative projects, say A and B, for this fiscal year. The cost of project A is $ 65,000 and the cost of B is $ 90,000. The firms cost of capital is 6% per year. After-tax cash flows are estimated to be $ 15,000 per year for four years for project A and $ 29,000 per year for four years for project B. Please compute the payback period, discounted payback period, IRR, NPV, and profitability index (PI) for each of these two projects. Which project should HARDWARE COundertake? Please be specific and show your work. (b). Assume the discounted payback of the project is less than the life of the project. The required return (or the cost of capital) on the project is r (%) and the life of the project is N years. What do you know about the NPV of the project? That is, is NPV positive, negative or zero? Please explain your answer. Is IRR greater than, less than, or equal to r (%)? Again, explain our answer.

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