Initial investment Project A 15,000 1,000 3,000 8,000 Project B 40,000 O Project C 14,500 EO Project E 9,000 Project D 3,000 1,000 3,000 5,000 1,000 Year 1 est. profits Year 2 est. profits Year 3 est. profits Year 4 est. profits Year 5 est. profits ARR EO 50,000 50,000 3,000 7,000 7,000 15,000 7,000 7,000 6,000 8,000 3,000 8,000 55,000 O 5,000 Frank is considering investing in five different projects. Using the information above make a recommendation as to which project he should choose. Explain your answer (and show your workings)