no excel please

3. (10 Marks) Consider the following cash flows of two mutually exclusive projects for Staple Supply Corp. Assume the discount rate for the company is 10%. Year 0 M1 M2 -300000-600000 280000 270000 170000 400000 150000 320000 3 a. Based on the payback period, which project should be accepted? b. Based on the NPV, which project should be accepted? c. Based on the IRR, which project should be accepted d. Based on the analysis, is incremental IRR analysis necessary? If yes, please conduct the analysis