o L (CLO3) Gult First Bank is in the process of choosing the better of two equal rink, mutuolly exclusive capital expenditure projects-A and B. The relevant cash flown for each project are shown in the following table. The firm's cost of capital is 14% Project A Projects 2 Initial investment $29,500 $28,000 $11,000 $11,000 $11,000 $11,000 3 $11,000 $9,000 4. $11,000 $8,000 Required: a. Calculate each project's payback period. b. Calculate the net present value (NPV) for each project. c. Calculate Profitability Index (PI) for each project d. Summarize the preferences dictated by each measure (Payback period, NPV, PU) and indicate which project you would recommend. Explain why