Deciding between three projects A company owned exclusively by residents in the Queensland coastal community of Noosa are offered three projects for which the cash flows are as follows in thousands of dollars. The directors work on 12 per cent as their RRR. Assume all cash flows occur at the end of the relevant years. There are no salvage values factored into the expected cash flows, and no salvage values are expected. Project A B C Year 0 -400 - 300 -320 Year 1 200 80 400 Year 2 160 80 20 Year 3 200 140 20 Year 4 120 160 20 Year 5 40 160 200 Required a. Calculate the four investment appraisal measures for each project. b. Rank the projects and advise the directors which projects, if any, to accept. Give your reasons