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i need explanation how to solve it 3. Consider the following two mutually exclusive projects: Whichever project you choose, if any, you require a return

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3. Consider the following two mutually exclusive projects: Whichever project you choose, if any, you require a return of 12 percent on your investment. a. If you apply the payback criterion, which investment will you choose? Why? b. If you apply the NPV criterion, which investment will you choose? Why? c. If you apply the profitability index criterion, which investment will you choose? Why? d. Based on your answers in (a) through (c), which project will you finally choose? Why? (a

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