Please solve using excel and explain formul used.

18. Comparing Investment Criteria Consider the following cash flows of two mutually exclusive projects for A-Z Motorcars. Assume the discount rate for both projects is 10 percent. YEART AZM MINI-SUV AZF FULL-SUV -$650,000 370,000 310,000 260,000 -$975,000 490,000 460,000 410,000 an and Capital Budgeting a. Based on the payback period, which project should be taken? b. Based on the NPV, which project should be taken? C. Based on the IRR, which project should be taken? d. Based on the above analysis, is incremental IRR analysis necessary? If yes, please conduct the analysis. had the cash flows