(Click the icon to view the data for the three projects.) Data table Read the requirements. Requirement 1. Because the company's cash is limited, Miltons thinks the payback method should be used to choose between the capital bu a. What are the benefits and limitations of using the payback method to choose between projects? Benefits of the payback method: A. Indicates whether or not the project will earn the company's minimum required rate of return B. Utilizes the time value of money and computes each project's unique rate of return C. Easy to understand and captures uncertainty about expected cash flows in later years of a project D. All of the above Requirements 1. Because the company's cash is limited, Miltons thinks the payback method should be used to choose between the capital budgeting projects. a. What are the benefits and limitations of using the payback method to choose between projects? b. Calculate the payback period for each of the three projects. Ignore income taxes. Using the payback method, which projects should Miltons choose? 2. Benson thinks that projects should be selected based on their NPVs. Assume all cash flows occur at the end of the year except for initial investment amounts. Calculate the NPV for each project. Ignore income taxes. 3. Which projects, if any, would you recommend funding? Briefly explain why