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(12-21) Payback, NPV and MIR Your Mision is considering two investment projects, each of which requires an up-front expenditure of $25 million. You estimate that the cost of capital is 10% and that the investments will produce the following after-tax cash fows (h milions of dollars) Your na w Pro 1 5 20 10 10 15 8 4 20 6 a What is the regular payback period for each of the projects? ANEMER What is the discounted payback period for each of the projects? HEMEN Calculate the NPV and IRR of the two projects. If the two projects are independent and the cost of capital is 10%, which project or projects should the firm undertake? ANEMER d. If the two projects are mulually exclusive and the cost of capital is 5% which project should the firm undertake? AIMER c. If the two projects are mulually exclusive and the cost of capital is 15%, which project should the firm undertake? ANEMER 1 What is the crossover rate? AHMEN If the cost of capital is 10%, what is the modilied IRR (MIRR) ol each project? ANNER