Excel is not allowed. Please use financial calculator or normal calculator Thank you

1. MC Petroleum, Inc., is trying to evaluate the following two mutually exclusive projects. Whichever project the firm chooses, it requires a 12% return on its investment. Year Cash Flow (A) Cash Flow (B) 0 -500,000 -500,000 1 30,000 320,000 2 100,000 220,000 3 80,000 300,000 420,000 4 60,000 (a) [5 points] If you rely on the payback period method, which investment will you choose? Support your answer with relevant calculations. (b) [5 points] If you use the NPV rule, which investment will you choose? Support your answer with relevant calculations. (c) [5 points] Calculate IRRS of Projects A and B. Explain what specific problems the firm would have if the firm uses the IRR rule to choose between these two mutually exclusive investments. (d) [5 points] Over what range of discount rates would Project A have higher NPV than Project B? Explain your answers