ByteWave Innovations has provided the following figures for two investment projects, only one of which may be chosen. Profit is calculated after deducting straight line depreciation. The business has a cost of capital of 12%. Required A. Calculate the payback period, net present value and accounting rate of return for each project. I. The Payback Period. II. The Accounting Rate of Return/Return on Capital Employed. III. The Net Present Value. B. Discuss your findings in each section of (b) and advise as to what project needs to be undertaken