Mike Alice is a new project analyst; he is working on capital budgeting analysis of EMC's two mutually exclusive projects. The followings are the cash flow forecasts for both the projects. Year Year 1 Year 2 EMC Cashflows Streams Project 1 Cashflow -$268,800.00 $103,396.00 $114,425.00 $95,285.45 $141,975.52 10% Project 2 Cashflow -$325,000.00 $140,320.00 $126,600.00 $114,060.00 $139,729.00 Year 3 Year 4 Cost of capital 10% The following metrics presents the key information based on capital budgeting indicators. For purposes of analysis, he plans to use a required rate of return of 20% for both projects. Ideally, he would prefer that the project he chooses to have a payback period of less than 3.5 years and a discounted payback period of less than 4 years. Please calculate the missing values in the table and help Mr. Jordan to decide which project to select and why? Project B A Project A 2.54 2.51 Metrics Payback period (in years) Discounted payback period (in years) Net Present Value (NPV) Internal Rate of Return (IRR) Profitability Index Accounting Rate of Return (ARR) $88323 22.20% 1.52 1.52