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A company has identified the following investments as looking promising. Each requires an initial investment of $1.2 million. 1. A perpetuity that generates a cash flow at the end of year 1 of $100,000, has a growth rate of 1.25%, and a cost of capital of 11.0% 2. A perpetuity that generates a cash flow at the end of year 1 of $800,000, has a growth rate of 2.25%, and a cost of capital of 11.8% 3. An investment that generates a cash flow of $400,000 at the end of year 1, forever, when the cost of capital is 6.1% 4. An investment that generates a cash flow of $200,000 at the end of year 1, forever, when the cost of capital is 3.1% i) Using the IRR rule, which investments will you accept and which will you reject? ii) Using the NPV rule, which is the best investment? iii) What is the payback period for each investment iv) If the company has a budget of $2.4 million, using the profitability index, which projects will you fund