P10-21 (similar to) EQuestion Help All techniques, conflicting rankings Nicholson Roofing Materials Inc., is considering two mutually exclusive projects, each with an initial investment ofS100,000. The company's board of directors has set a 4-year payback requirement and has setits cost of capital at 8%. The cash inflows associated with the two projects are shown in the follo table: wing a. Calculate the payback period for each project. Rank the projects by payback period. 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. a. The payback period of project A is years Round to two decimal places