Ex 3. Company D is considering 2 investments: implementing ion-battery or upgrading its current automated factory in the US. How would the Financial Manager compares those 2 options considering the following investments and returns of both options: Discount factor 5% Project A Project B Ion battery Plant upgrading 160.000 Initial investment 120.000 Expected Cash flows Year 1 45,000 15.000 Year 2 50.000 25.000 Year 3 35.000 50.000 Year 4 20.000 Year 5 30,000 Year 6 40.000 An additional project consisting in the improvement of ion-batteries implemented, could also be considered: Project C Ion battery improvement Initial investment 90.000 Expected Cash flows Year 4 30.000 Year 5 25.000 Year 6 50.000 Using the replacement chain illustration method, wihch option should the Financial Manager chose and why