Project One 500 400 1000 300 100 Cash Flow Cum NCF y EARS Payback Period Project Two Year Zero Year One Year Two Year Three Year Four Cash Flo .200000 750 750 750 750 Cum NCF yEAR s Payback Period Project Three Year Zero Year One Year Two Year Three Year Four Cash Flow 2000 300 Cum NCF Payback Period Net Present Value NPV Project One 300 100 500 400 Cash Flow 1000 Dis Cash Flow 10% Discount Rate 10% Project Two Cash Flo 1000 100 300 500 400 Dis Cash Flow Discount Rate 9 Project Three Cash Flow 1000 700 500 400 300 Dis Cash Flow Discount Rate 11%