Q3 Aura Indah Designs has prepared the following estimates for two mutually exclusive long term project it is considering. The minimum payback period acceptance is 5 years. Information of the project is as outlined below: Project A The initial investment is RM21,500, and the project is expected to yield after-tax cash inflows of RM4,500 per year for 6 years. The firm has a 9% cost of capital. Project B The initial investment is RM19,250 and the project is expected to yield after-tax cash inflows of RM4,200 per year for 7 years. The firm has a 8% cost of capital. (a) Calculate the payback period of each project. (4 marks) (b) Identify which project should be invested based on the payback period acceptance criteria and by assuming both projects are in mutual exclusive condition. (2 marks) (c) Calculate: (i) Net present value (NPV) for the project. (8 marks) (ii) Internal rate of return (IRR) for the project. (12 marks) (d) Identify which project should be rejected based on the values of NPV and IRR in Q3(c)