Project A Project B Project C Initial investment 150,000 150,000 150,000 Year 1 30,000 15,000 25,000 2 30,000 35,000 20,000 3 30,000 20,000 15,000 4 30,000 40,000 40,000 5 30,000 5,000 35,000 6 30,000 9,000 5,000 If the cost of capital is 16% a. Calculate projects payback period, which project will be preferred? b. Calculate the NPV and rank the projects c. Calculate the IRR and rank the projects d. Which project you will take based on NPV and IRR