All techniques - Decision among mutually exclusive investments. Pound Industries is attempting to select the best of three mutually exclusive projects. The initial investment and after-tax cash inflows associated with these projects are shown in the following table:

Cash flows	Project A	Project B	Project C
Initial investment (CF)	$90,000	$130,000	$120,000
Cash inflows (CF),t=1 to 5	$30,000	$41,000	$41,500

a. calculate the payback period for each project.

b. calculate the net present value (NPV) of each project, assuming that the firm has a cost of capital equal to 12%.

c. calculate the internal rate of return (IRR) for each project.

d. indicate which project you would recommend.