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Regions Bank is debating between two the purchase of two software systems; the initial costs and annual savings of which are listed below. Software option A has an initial cost of $1,875,000 where software option B has an initial cost of $2,000,000. Use a discount rate of 10% for these projects and assume you want a payback of two years to choose a project. Year +1 Year +2 Year +3 Software option A $1,050,000 $900,000 $450,000 Software option B $1,250,000 $800,000 $600,000 8a. What is the payback for each of these projects? Use a payback period calculation to determine which of these two systems you should invest in. 8b. What is the discounted payback period for each of these projects? Use a discounter payback period calculation to determine which of these two systems you should invest in. 8c. What is the problem of using the payback period to make a decision? How does the discounted payback period solve this problem? How is the discounted payback period better than the payback period? What way (or ways) would be better in determining which project should be chosen? 8c. Use an NPV rule to determine which project to invest in. 8d. Calculate the IRR for the two projects. Using the 10% discount rate, which of the two projects should you select (if either)