P10-21 (similar to) All techniques, conflicting rankings Nicholson Roofing Materials, Inc., is considering two mutually exclusive projects, each with an initial investment of $160,000. The company's board of directors has set a 4-year payback requirement and has set its cost of capital at 9%. The cash inflows associated with the two projects are shown in the following table: a. Calculate the payback period for each project. Rank the projects by payback period. Data Table b. Calculate the NPV of each project. Rank the project by NPV. c. Calculate the IRR of each project. Rank the project by IRR. d. Make a recommendation. (Click on the icon located on the top-right corner of the data table below in order to a. The payback period of project A is years. (Round to two decimal places.) copy its contents into a spreadsheet.) Year 1 2 3 4 5 6 Cash inflows (CF) Project A Project B $50,000 $85,000 $50,000 $60,000 $50,000 $30,000 $50,000 $30,000 $50,000 $30,000 $50,000 $30,000 Print Done