Please clearly consider the coefficient of variation and meticulously write out each solution for Problem starting with A company and the Millenium Catering Company. Avoid using excel and write out everything step by step.

3. A company wants to replace a machine with a modern, more efficient model with a longer life expectancy. The equipment requires an initial investment of $600,000 in Year 0 . The expected cash flows and standard deviations are as follows: The firm's WACC is 16 percent and the risk-free rate is 6 percent. The analyst develops the following CEFs. What are the project's NPV and its CE(NPV)? Millennium Catering Company is considering two mutually exclusive investments. The company wants to use the RADR method in its analysis. Millennium's WACC is 15 percent, which is similar to the total market return using the CAPM. The risk-free rate of return is 7 percent. Analysts provide the following additional information about the investments: What is the RADR(NPV) for each project? Which project should be preferred? Why? Compare and contrast the CE and RADR methods. Can these two methods provide the same adjusted NPV? Why or why not