PART B: Solve the following exercises JP is evaluating six properties to buy today and sell them five years from today. The following table. summarizes the initial cost and the expected sale price for each property, as well as the appropriate discount rate based on their risk. Project Cost Today Discount Rate Expected Sale Price in 5 Years 3 000 000 15% 18 000 000 15 000 000 15% 75 500 000 9 000 000 50 000 000 6 000 000 8% 35 500 000 3 000 000 10 000 000 F 9 000 000 46 500 000 A B 15% D E 8% JP has a total capital budget of 18,000,000 to invest in properties. a. What is the IRR of each property? b. What is the NPV of each property? c. Given its budget of 18,000,000, which properties should JP choose? d. Explain why the profitably index method could not be used if JP's budget were 12,000,000 instead. Which properties should JP choose in this case