Assume you have 3 projects with the following cash flows, and the projects are independent. The cost of capital is 3% and the required rate of return is 20%.

Year	0	1	2	3	4
Project 1	-250	100	100	150	220
Project 2	-825	0	0	7000	-6500
Project 3	-20	40	60	80	-245

1)To make the investment decisions, how many investment decision rules do you have for each project? Discuss briefly about each rule.

2) Which project/projects should you choose ? Explain.