Payback and NPV Neil Corporation has three projects under consideration. The cash flows for each of them are shown in the following table: The firm has a cost of capital of 17%. 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. a. The payback period of project A is 3.08 years. (Round to two decimal places.) The payback period of project B is 3.63 years. (Round to two decimal places.) The payback period of project C is 2.38 years. (Round to two decimal places.) According to the payback method, which project should the firm choose? (Select the best answer below.) A. Project A B. Project C Project B b. The NPV of project A is $ (Round to the nearest cent.) Data Table X (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Project A $40,000 Initial investment (CF) Year (t) Project C $40,000 1 Project B $40,000 Cash inflows (CFt) $7,000 $10,000 $13,000 $16,000 $19,000 $13,000 $13,000 $13,000 $13,000 $13,000 2 3 $19,000 $16,000 $13,000 $10,000 $7,000 4 5 Print Done