Consider the following independent projects: Cash Flow ($) C4 C5 C2 C1 Project 0 0 0 0 1,000 0 -1,000 1,000 0 -2,000 1,000 1,000 -3,000 1,000 1,000 0 1,000 1,000 a) If the opportunity cost of capital is 7 percent, calculate the net present value (NPV) of each project. b) Based on the NPV calculated in a), which project (s) should a firm accept? Why? c) Calculate the payback period for each project. d) Which project(s) would a firm using the payback rule accept if the cutoff period is three years