Please use lines or formula

Table 1: Cash flows, NPV, IRR (figures in millions) 2 Capital Budgeting 1. Table 1 gives investments, NPVs, IRRs and the first three years' cash flow for several capital investment projects. The cost of capital is 12% for all projects. Project A and B are mutually exclusive. The projects are discrete - you cannot make partial investments in any project. (a) Suppose the firm rejects all projects with payback periods greater than 3 years. What is the NPV from following this policy? (b) Which project would you choose, A or B? (c) Suppose the firm has only $200 million to invest - a fixed capital constraint. Which projects would you undertake