All techniquesDecision 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) $100,000 $150,000 $160,000 Cash inflows (CF), t= 1 to 5 $35,000 $46,000 $46,500 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 2.86 years. (Round to two decimal places.) The payback period of project B is 3.26 years. (Round to two decimal places.) The payback period of project Cis 3.44 years. (Round to two decimal places.) b. The NPV of project A is $ 3.14. (Round to the nearest cent.)