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17- The Cordell Coffee Company is evaluating the within-plant distribution system for its new roasting, grinding, and packing plant. The two alternatives are (1) a conveyor system with a high initial cost but low annual operating costs and (2) several forklift trucks, which cost less but have considerably higher operating costs. The decision to construct the plant has already been made, and the choice here will have no effect on the overall revenues of the project. The required rate of return for the plant is 9 percent, and the projects'expected net costs are listed in the following table: Expected Net Cash Flows Year Conveyor Forklift $300,00D)S120,000) (66,000) a. What is the present value of costs of each alternative? Which method should be chosen? (Hint: Be careful-these cash flows are outflows.) b. What is the IRR of each alternative? 17-1 Olsen Engineering is considering including two pieces of equipment-a truck and an overhead pulley system-in this year's capital budget. The projects are independent. The cash outlay for the truck is $22,430, and for the pulley system it is S17,100. Each piece of equipment has an estimated life of five years. The annual after-tax cash flow expected to be provided by the truck is $7,500, and for the pulley it is $5,100. The firm's required rate of return is 14 percent. Calculate the IRR, the NPV, and the traditional payback period for each project, and indicate which project(s) should be accepted