P10-21 (similar to) Question Help All techniques, conflicting rankings Nicholson Roofing Materials, Inc., is considering two mutually exclusive projects, each with an initial investment of $120,000. 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: E 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. X i Data Table a. The payback period of project A is 3.43 years. (Round to two decimal places.) (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) The payback period of project B is 1.5 years. (Round to two decimal places.) According to the payback method, which project should the firm choose? (Select the best answer below. Year 1 A. Project B 2 B. Project A Cash inflows (CF) Project A Project B $35,000 $85,000 $35,000 $70,000 $35,000 $10,000 $35,000 $10,000 $35,000 $10,000 $35,000 $10,000 3 4 b. The NPV of project A is $ (Round to the nearest cent.) 5 6 Print Done Enter your answer in the answer box and then click Check