Capital Budgeting Techniques Edelman Engineering is considering 2 pieces of equipment, a truck and an overhead pulley system, in this year's capital budget. The projects are mutually exclusive. The cash outlay for the truck is $17,100 and for the pulley system is $22,430. The firm's cost of capital is 14 percent. After tax cash flows, including depreciation is as follows: Year 1 2 3 4 5, Truck $ 5,200 5,200 5,200 5,200 5200 Pulley $ 7,500 7,400 7,500 7,600 7,100 1- Calculate the payback period, NPV, and IRR for each project. 2- Which project would you accept if projects were: mutually exclusive, independent and dependent