PLEASE DON'T USE EXCEL TO SOLVE THIS. SOLVE IT MANUALLY.

Determine the payback period, net present value and internal rate of return of the following projects. The cost of capital of the firm is 15%.

a) An initial outlay of RM 100,000 in a cash flow of RM 20,000 at the end of year 1, RM 50,000 at the end of year 2 and RM80,000 at the end of year 3.

b) An initial outlay of RM 100,000 in a cash flow of RM 80,000 at the end of year 1, RM 50,000 at the end of year 2 and RM 20,000 at the end of year 3.

c) An initial outlay of RM 100,000 resulting in a cash flow of RM20,000 at the end of year 1 through 5 and RM 50,000 at the end of year 6