B2. Everest plc is considering investing in a number of new investment projects A, B, and C. The expected pattern of net cash flows for each project are (370) (800) (950) 250 250 290 290 400 115 115 200 300 350 200 200 200 350 350 2 4 The company's cost of capital is 8%. Everest plc wishes to use net present value (NPV) to assess the three projects. () Outline the Net Present Value (NPV) rule for the following investment scenarios: (a) to decide whether a specific project is worthwhile (b) to decide between two mutually exclusive projects (6 marks) (ii) Critically discuss why the net present value (NPV) method is considered to be theoretically superior to other appraisal methods. (6 marks) (i) Calculate each project's net present value. Explain whether you would recommend to Everest plc to proceed with each project based on NPV assuming they have no constraints on how many projects to adopt. (9 marks) (iv) Explain briefly how the above calculations would change if Everest plc had a maximum capital investment budget of 1,000,000. (4 marks)