JUST SOLVE IT FOR INVESTMENT 3..

Your company has a two-step process for evaluating investment projects: first, the conventional payback period must be less than (or equal to) 4 years; second, the project must have a positive net present worth using a 15% discount rate. You loan a friend $20,000 to start their business and they will pay you back $6,000 per year for 5 years. You purchase a revenue property for $350,000 in cash that will provide you with income of $3000 per month for 5 years after which you sell the property for $400,000. You take a loan to buy a $350,000 revenue property with a 20% down payment resulting in monthly payments of $1400 and revenue of $3000 per month. After 5 years you again sell the property for $400,000 which leaves you $158, 355 more than what you owed on the loan at the end of 5 years. (Loan calculations are not required) Calculate the NPV and payback period for each investment. Which of these projects would be an acceptable investment