Alexis is considering three independent projects. The cash flows for each project are: Project A:(-$19,000, $5,500, $21,000) Project B:(-$17,000, $21,000) Project C:(-$18,000; $13,000; $8,000) Alexis believes that a discount rate of 13.5 percent is applicable to all three projects. Given this, she would like to know two things: (1) which projects, if any, are acceptable, and (2) given limited resources, how the projects rank in order of preference. She has hired you to compile this information for her. Your report to her will state that:

(Show your work, write the formula)