Answer all questions with understanding and working.

A\&B Enterprises is trying to select the best investment from among four alternatives. Each alternative involves an initial outlay of $100,000 and a 10% cost of capital. Their cash flows follow: (i) Calculate each project's Payback Period ( 8 marks) (ii) Calculate each project's Net Present Value (NPV) (12 marks) (iii) Which project should the firm accept under each technique