Mr Ali has an option of investing in one project from the proposed three different projects. The initial investment and cash flows are given below

r=12%

years	Cf project 1	Cf project 2	Cf project 3
0	(10,000)	(28,000)	(22,000)
1	1000	3000	4000
2	880	7000	1000
3	6000	8000	1000
4	4000	12000	9000
5	2000	7500	11500
6	3650	6400	8900

1. Calculate payback for all three projects
2. Calculate discounted payback for all three projects
3. Calculate NPV for all three projects
4. Calculate profitability index for all three projects
5. Calculate IRR for all three projects
6. Write a detailed comment on which project Mr Ali must invest on the basis of above calculated criterias and why he must ignore the other projects.