Payback and NPV Neil Corporation has three projects under consideration. The cash flows for each of them are shown in the following table: D. The firm has a cost of capital of 16%. a. Calculate each project's payback period. Which project is preferred according to this method? b. Calculate each project's net present value (NPV). Which project is preferred according to this method? c. Comment on your findings in parts a and b, and recommend the best project. Explain your recommendation. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) 2 Project A $40,000 Project C $40,000 Initial investment (CF) Year (1) Project B $40,000 Cash inflows (CFt) $4,000 $10,000 $16,000 $22,000 $28,000 $16,000 $16,000 $16,000 $16,000 $16,000 a AWN- $28,000 $22,000 $16,000 $10,000 $4,000