Consider that Xerox Inc., is considering three capital investment opportunities. All three investment opportunities require USD 10 Million and have a useful life of 4 years. Project 'Alpha' will produce USD 3.5 million in cash inflows over the useful life of the project, whereas Project 'Delta' will produce USD 2.5 million of cash inflows over its useful life; Project 'Echo' will produce USD 6.5 Million in cash inflows during year 1 of the useful life followed by USD 3 Million in year 2 and year 3 and USD 1 Million in year 4. Cost of capital is 12%. Required: a) Calculate payback period of all the projects. b) Calculate NPV and IRR of all the projects. c) If three projects were independent, which project do you think, the company would accept? d) If three projects were mutually exclusive, which project do you think the company would accept? e) From risk perspective, what possible techniques can be applied by Xerox to assess financial and economic viability of all the three investment cases that are mentioned above? Briefly explain these techniques that you think are relevant and apply one such technique showing calculations