Part A (12 Marks) There are three projects available to a company to invest in. All investments require an initial investment of $25 million with the following forecasted cash flows. Assume end of year cash flows except for date 0 (i.e. date 0 represents "today"). Year 0 1 2 3 Investment A $25M +$25M $2.5M $2.5M Investment B $25M +$2.5M $2.5M $30M Investment C -$25M +$2.5M $27.5M $2.5M (i) Assuming the discount rate is 9%, which investment should the company choose? Show your calculations. (ii) Now if the discount rate can be higher or lower than 9% will you change your mind for the company to invest in? Why or why not? (ii) When will Investment A, B or C be preferred