Pound Industries is attempting to select the best of three mutually exclusive projects. The initial investment and after-tax cash inflows associated with these projects are shown in the following table.

Cash flows	Project A		Project B		Project C
Initial investment (CF)	$40,000		$70,000		$80,000
Cash inflows = 1 to 5,	$15,000		$26,000		$27,000

Calculate the payback period for each project.

B . Calculate the net present value (NPV) of each project, assuming that the firm has a cost of capital equal to 12%.

c. Calculate the internal rate of return (IRR) for each project.

d. Indicate which project you would recommend.