Armory Corporations must choose between investment projects X and Z, which are mutually exclusive. The data on these projects are as follows: Year Project X Project Z 0 (18,000) (25,000) 1 12.500 12,500 2 8,000 9,000 3 2,400 10,000 Required: a) Calculate the regular payback period for both projects respectively and recommend the project that should be chosen. (10 marks) b) Determine the Net Present Value (NPV) of both projects with a 10% cost of capital and recommend which project is viable