Consider the following cash flows (in $1,000's) of three mutually exclusive projects for DJT, Inc. Assume that DJT's required rate of return is 10%. Year Project 1 Project 2 Project 3 0 1 2 3 ($1,800) 850 850 950 ($950) 600 375 550 ($1,450) 550 850 790 Required: Answer the following questions concerning these projects. Based on the Payback Method, which project should DJT accept? 1. 2. Based on the Internal Rate of Return (IRR), and nothing else, which project should DJT accept? 3. If incremental IRR analysis is necessary, conduct the analysis to determine the best Project for DJT. 4. If DJT's required rate of return was 15%, which project should it accept (use rate of return analysis) 5. Based on the Net Present Value (NPV), which project should DJT accept at 10% and at 15%? 6. Considering your answers to parts 1 through 4, which project do you recommend and why