illustrate and explain the results of the capital budgeting exercise undertaken using the techniques Apply the capital budgeting techniques to justify investment decisions in relation to the two mutually exclusive projects being considered. You are required to apply capital budgeting techniques, such as: net present value internal rate of return profitability index discounted pay back period pay back period accounting rate of return. Years 0 1 2 3 4 5 Purchasing cost of the new fleet $ 2.00 Proceeds from selling the existing fleet $ 0.10 Capital gains tax adjusted $ - (a) Net incremental CAPEX $ 1.90 Incremental Working Capital Incremental sales $ 1.70 $ 1.50 $ 1.30 $ 1.50 $ 1.70 Incremental variable expenses $ (0.94) $ (0.83) $ (0.72) $ (0.83) $ (0.94) Incremental depreciation $ (0.40) $ (0.40) $ (0.40) $ (0.40) $ (0.40) Incremental savings of replacement - operating expense $ 0.08 $ 0.08 $ 0.08 $ 0.08 $ 0.08 Incremental savings of replacement - Insurance $ 0.02 $ 0.02 $ 0.02 $ 0.02 $ 0.02 Incremental savings of replacement - Leasing cost $ 0.28 $ 0.28 $ 0.28 $ 0.28 $ 0.28 Incremental