Pipe Pig Inc. has the following information for the cash flows that are estimated for two different projects: Year Project A Project B -82,000 -125,000 38,600 33,400 0 1 2 3 4 5 15,700 18,300 23,900 26,200 32,100 31,200 27,500 24,000 b. a. Compute the payback period for Project A and Project B assuming a 4-year cut-off. Compute the net present value for Project A and Project B assuming an 11 percent discount rate. c. Based on both the payback period and net present value, the financial manager of the company has asked you to recommend which project the company should select and why. d. Briefly explain to the financial manager the difference between the internal rate of return and the modified internal rate of return techniques. In what cases would the modified internal rate of return be more preferable to the standard internal rate of return technique?