B.) CityView is planning to expand their production facility. Alternatively they can invest their money in a new venture. However they cannot take on both the alternatives and have to select only one. Calculate the Payback period, NPV, IRR, MIRR and PI for both projects. Assume a 15% required rate of return. What is your best decision based on all these calculations. You must explain the answer.

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Year 0 -$15,000 -$30,000

Year 1 $ 5,000 $12,000

Year 2 $ 6 ,000 $11,000

Year 3 $ 7,000 $10,000

Year 4 $ 8,000 $ 9,000