Miltons Construction is analyzing its capital expenditure proposals for the purchase of equipment in the coming year. The capital budget is limited to $6,000,000 for the year. Lori Bentley, staff analyst at Miltons, is preparing an analysis of the three projects under consideration by Corey Miltons, the company's owner. (Click the icon to view the data for the three projects.) Present Value of $1 table Present Value of Annuity of $1 table Future Value of $1 table Future Value of Annuity of $1 table Read the requirements. X k method should be used to choose between i Data Table ween projects? A B D 1 Project A Project B Project C later years of a project 2 Projected cash outflow f return 3 Net initial investment $ 3,000,000 $ 1,500,000 $ 4,000,000 red rate of return 4 Projected cash inflows 5 Year 1 $ 1,000,000 $ 6 Year 2 1,000,000 400,000 $ 2,000,000 900,000 2,000,000 800,000 200,000 100,000 e period to the next. 7 Year 3 1,000,000 8 Year 4 1,000,000 (t's cash flows after the payback period 9 Required rate of return 6% 6% 6% b. Calculate the payback period for each of the three projects. Ignore income taxes. (Round your answers to two decimal places.) years Project A Project B Project C years years Using the payback method, which project(s) should Miltons choose? Requirement 2. Calculate the NPV for each project. Ignore income taxes. (Round your answers to the nearest whole dollar. Use parentheses or a minus sign for negative net present values.) The NPV of Project A is The NPV of Project B is INI The NPV of Project C is