Please show formula in detail please ? 1. Calculate the NPV for the following projects with a discount rate of 12%:

a.Project 1 costs $100,000 and earns $50,000 each year for three years.

b.Project 2 costs $200,000 and earns $150,000 in the first year, and then $75,000 for each of the next two years.

c.Project 3 costs $25,000 and earns $20,000 each year for three years.

d. If the projects are mutually exclusive, which should we accept?

e. If the projects are independent, which should we accept?