Biometric Ltd. is considering investing in either of two competing projects that will allow the firm to eliminate a production bottleneck and meet the growing demand for its products. The firm's engineering department narrowed the alternatives down to two mutually exclusive projects named project TX and Project TY. The firm's CFO developed the following estimates of the cash flows for project TX and project TY over the relevant 4-year time horizon. The firm has an 10 percent required return and payback cut-off of three years. These two projects are viewed as equally risky. Project TX Project TY Year Cash Flows 0 -$630,000 -$450,000 1 $290,000 $190,000 2 $290,000 $190,000 3 $240,000 $220,000 4 $240,000 $220,000 The below report was partly completed by your colleague who left the company last month. Method Net present value (NPV) Internal rate of return (IRR) Payback period Project TX (i) 25.81% (iii) Project TY (ii) 28.16% (iv) [Note: take full decimal places in the middle steps and round your FINAL answer to 2 decimal places (i.e. $1.23 or 1.23% or 1.23 years)] (a) Fill in the missing figures (1) - (iv) for the net present value (NPV) and payback period of each project. Show your workings. (8 marks) (b) Project TX and TY are mutually exclusive projects. Put a "/" in the below table to accept either Project TX or project TY based on the THREE methods respectively. (3 marks) NPV IRR Payback period Project TX Project TY (c) Project TX and Project TY are mutually exclusive projects. Determine over what range of discount rates that the company should undertake Project TX? Project TY? Neither Project TX nor TY? Support your conclusions with calculations and explanation. [within 100 words] (6 marks)