MCQ(1 Point)J.S. Cereals Corp. is considering replacing its cereal packing equipment. The new equipment costs $ 120,000. The new equipment is more efficient and would generate incremental cash flow of $ 50,000 per year for the next five years. If the cost of capital is 15%; and the maximum payback period set by the firm management is 3 years. You advise J.S.Cereals Corp. to: Select one: a. reject the project the project based on the IRR method b. accept the project because the NPV is positive O c. reject the project based on the payback period method O d. A, B & C are incorrect