please solve 1B. 2 and 3 not just written explanation

Andrews Construction is analyzing its capital expenditure proposals for the purchase of equipment in the coming year. The capital budget is llmited to $12,000,000 for the year. Lydia Bobo, staff analyst at Andrews, is preparing an analysis of the three projects under consideration by Calvin Andrews, the company's owner. (Click the icon to view the data for the three projects.) Present Value of $1 table Future Value of $1 table Future Value of Annuity of $1 table Read the reauirements. Requirement 1. Because the company's cash is limited, Andrews thinks the payback method should be used to choose between the capital budgeting projects. a. What are the benefits and limitations of using the payback method to choose between projects? Benefits of the payback method: Utilizes the time value of money and computes each project's unique rate of retum B. Indicates whether or not the project will earn the company's minimum required rate of return C. Easy to understand and captures uncertainty about expected cash flows in later years of a project D. All of the above Requirements 1. Because the company's cash is limited, Andrews thinks the payback method should be used to choose between the capital budgeting projects. a. What are the benefits and limitations of using the payback method to choose between projects? b. Calculate the payback period for each of the three projects. Ignore income taxes. Using the payback method, which projects should Andrews choose? 2. Bobo thinks that projects should be selected based on their NPVs. Assume all cash flows occur at the end of the year except for initial investment amounts. Calculate the NPV for each project. Ignore income taxes. 3. Which projects, if any, would you recommend funding? Briefly explain why. Data table b. Calculate the payback period for each of the three projects. Ignore income taxes. (Round your answers to two decimal places.) \begin{tabular}{l|l} \hline Project A & years \\ \hline Project B & years \\ \hline Project C & years \end{tabular}