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Ricks Materials Incorporated is considering two mutually exclusive projects, Alpha and Beta, with an initial investment of $200 000 and $300 000, respectively. The board of directors has set a three-year life span for them with a cost of capital of 10% and 15%, respectively. Year Alpha Beta Cash Flow $100 000 $100 000 Cash Flow $120 000 $100 000 Cash Flow $ 40 000 $150 000 For both projects, determine the: i. payback period. (4 marks) 11. net present value. (8 marks) iii. profitability index. (4 marks) Make and justify a recommendation. (4 marks)