please help to me answer this question

Question Four Answer all parts Advanced Manufacturing Plc (AMP) has engaged a consulting firm to review its investment appraisal policies and outline any changes that should be made to it. Shown below are some extracts from the company's policy. 1. "Projects are assessed under three criteria; projects must impact positively on AMP's Earnings Per Share within 3 years of the initial investment projects must have an expected Pay-back Period of less than four years, projects must generate a positive Ner Present Value. Projects which meet two or more of these criteria are forwarded to the Board of Directors for approval." 2. "To ensure consistency of decision making, projects proposed in the company's three divisions: Contract Manufacturing, Advanced Manufacturing and Basic Manufacturing, are all to be assessed using the company's Weighted Average Cost of Capital." 3. "To accurately reflect differences in the financing of investments, projects financed entirely using debt will use the cost of debr, rather than the Weighted Average Cost of Capital, as the discount rate when estimating the Net Present Value." 4. "To facilitate efficient decision making, the final authority for determining baseline cash-flow forecasts for estimating project Net Present Value will rest with the Managing Director of the division proposing the projeci." $. "To capture the inherent uncertainty of forecasted project cash-flows a positive and negative scenario will be constructed for each project where nef cash-flows will be more and less favourable respectively by 5% than the baseline forecast. Net Present Values will be estimated for each of these scenarios and these will form part of the project proposal forwarded to the Board of Directors for approval." Required: Comment on each of the extracts from the policy above. In each case explain why the policy is inappropriate and outline an appropriate replacement policy