Please could someone help me answer the following question, showing all workings? Many thanks in advance!

MyCar Ltd is considering two mutually exclusive investment projects Both proiects are concerned with the purchase of a new plant The tollow1ng data is available tor each proiect Project 1 ABO 000 Project 2 R50 000 Initial investment | ExDected cash inflows Year1 Year2 Year3 Year4 Year5 R15 000 R20 000 R25 000 R30 000 R35 000 R20 000 R20 000 R15 000 R15 000 R15 000 The business has an estimated cost of capital of 13% and has sufficient funds to meet all capital expenditure requirements REQUIRED (a) Calculate the payback period tor each of the proiects above (b) Calculate the net present value (NPV) for each of the proiects above (8) (c) Based on the 1nformat1on you obtained in (a) and (b) above, which project would you recommend and why? (3)