Capital Budgeting You are considering three independent projects, project A, project B and project C. The required rate of return on both projects is 20 percent. The initial capital and expected annual cash inflows from each project are as follows: PROJECT A PROJECT B PROJECTC Initial outlay (RM50,000) (RM100,000 (RM450.000) Cash inflows Year 1 RM10,000 RM25.000 RM200,000 Year 2 15,000 25,000 200,000 Year 3 20.000 25,000 200,000 Year 4 25.000 25,000 Year 5 30.000 25,000 Calculate the Payback period and NPV for each project and indicate if the project should be accepted. (20 marks)