Projects T and G, of equal risk, are alternatives for expanding BMG's Company's capacity. The firm's cost of capital is 13%. The cash flows for each project are shown in the following table: Due to the current volatile economic circumstances in South Africa, the management of BMG Company has stated that they would like a payback period of three years on these two projects, if possible. REQUIRED: 2.1 Calculate the payback period for the two projects and evaluate which project should be accepted. (5) 2.2 Calculate the Net Present Value (NPV) for both projects and comment on the viability of the projects. The following discounting factors to be used: (17) 2.3 Discuss why the NPV method is the preferred choice for investment appraisals (3)