All techniques, conflicting rankings Nicholson Roofing Materials, Inc., is considering two mutually exclusive projects, each with an initial investment of $180,000. The company's board of directors has set a 4-year payback requirement and has set its cost of capital 7%. The cash infows associated with the two projects are shown in the following table a. Calculate the payback period for each project. Rank the projects by payback period b. Calculate the of each project. Rank the project by NPV. c. Calculate the IRR of each project Rank the project by IRR. d. Make a recommendation All techniques, conflicting rankings Nicholson Roofing Materials, Inc., is considering two mutually exclusive projects, each with an initial investment of $180,000. The company's board of directors has set a 4-year payback requirement and has set its cost of capital 7%. The cash infows associated with the two projects are shown in the following table a. Calculate the payback period for each project. Rank the projects by payback period b. Calculate the of each project. Rank the project by NPV. c. Calculate the IRR of each project Rank the project by IRR. d. Make a recommendation