dont do it in excel

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b. Consider the following two mutually exclusive projects: Year Cash Flow (A) 0 (320,000) 1 30,000 2 60,000 3 50,000 4 420,000 Cash Flow (B) (40,000) 18,000 15,000 18,000 10,500 WN Whichever project you choose, if any, you require a 12 percent return on your investment. a. If you apply the payback criterion, which investment will you choose? Why? b. If you apply the discounted payback criterion, which investment will you choose? Why? c. If you apply the NPV criterion, which investment will you choose? Why? d. If you apply the IRR criterion, which investment will you choose? Why