AZ Corporation, a company which has been actively reinvesting its profit into expansion of production capacity, is considering either one among three alternative capital investments due to its capital constraint. The projects would not be delayed to a future time frame. Besides, in the post project period, identical investment opportunities tend not to occur. Project Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 (250,000) 80,000 80,000 80,000 80,000 80,000 80,000 B (150,000) 60,000 88,000 65,000 32,000 (180,000) 41,000 45,000 55,000 50,000 a) Given the 12% predicted cost of capital, compute the net present value (NPV) for each project. (12 marks) b) Calculate the internal rate of return (IRR) for each project. Besides, based on the answers in Part a), which project should be accepted? Provide your reasoning to support your decision. (5 marks) [Total 17 Marks]