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 Initial investment (CF) Cash inflows (CF), t = 1 to 5 Project C Project A Project B $80,000 $120,000 $25,000 $36,500 $110,000 $37,500 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. a. The payback period of project A is years. (Round to two decimal places.) The payback period of project B is years. (Round to two decimal places.) years. (Round to two decimal places.) The payback period of project C is b. The NPV of project A is $ The NPV of project B is $. The NPV of project C is $ c. The IRR of project A is The IRR of project B is%. (Round to the nearest cent.) (Round to the nearest cent.) (Round to the nearest cent.) %. (Round to two decimal places.) (Round to two decimal places.) The IRR of project C is %. (Round to two decimal places.) d. Which project would you recommend? (Select the best answer below.) O A. Project B OB. Project A OC. Project C