(Click on the icon here Note that Mario plans to analyze both lathes over a 5 -year period. At the end of that time, the lathes would be sold, thus accounting for the large fifth-year cash inflows. payback period of 4.0 years. To Do a. Use the payback period to assess the acceptability and relative ranking of each lathe, b. Assuming equal risk, use the following sophisticated capital budgeting techniques to assess the acceptability and relative ranking of each lathe: (1) Net present value (NPV). (2) Internal rate of return (IRR) c. Summarize the preferences indicated by the techniques used in parts (a) and (b). Do the projects have conflicting rankings? e. Use your findings in parts a through d to indicate, on both (1) a theoretical basis and (2) a practical basis, which lathe would be preferred. Explain any difference in recommendations. (Click on the icon here Note that Mario plans to analyze both lathes over a 5 -year period. At the end of that time, the lathes would be sold, thus accounting for the large fifth-year cash inflows. payback period of 4.0 years. To Do a. Use the payback period to assess the acceptability and relative ranking of each lathe, b. Assuming equal risk, use the following sophisticated capital budgeting techniques to assess the acceptability and relative ranking of each lathe: (1) Net present value (NPV). (2) Internal rate of return (IRR) c. Summarize the preferences indicated by the techniques used in parts (a) and (b). Do the projects have conflicting rankings? e. Use your findings in parts a through d to indicate, on both (1) a theoretical basis and (2) a practical basis, which lathe would be preferred. Explain any difference in recommendations