Payback, Accounting Rate of Return, Present Value, Net Present Value,Internal Rate of ReturnAll scenarios are independent of all other scenarios. Assume that all cash flows are after-tax cashflows.a. Kambry Day is considering investing in one of the following two projects. Either projectwill require an investment of $20,000. The expected cash flows for the two projects follow.Assume that each project is depreciable.

Exercise 14-32 Payback, Accounting Rate of Return, Present Value, Not Present Value, CELECTIVE ( 2 3 Internal Rate of Return All scenarios are independent of all other scenarios. Assume that all cash flows are after-tax cash flows. a. Kambry Day is conudering investing in one of the following two projects, Either project will require an investment of 530,000. The expected cash flows for the two projects follow. Assume that cach project is depreciable. Year Project A Project Il 5 6,000 5 6.000 L.DOO 10,000 10,000 10,000 3.000 10,000 3.000 (Continued)