Question 1: (35 marks) Project \"DELTA\" has a cost of $14,000 and is expected to produce benets (e.g., cash ows) of $5,800 per year for seven years. Project \"OMICRON\" costs $21,000 and is expected to produce cash flows of $8,500 per year for seven years, a, Calculate the two projects Net Present Values, Payback, Discounted Payback and Protability Index ranking methods, assuming an interest/discount rate of i=8%. b. Which project would be selected, assuming that are Mutually Exclusive, using each ranking method? 0. Discuss in detail the advantages/disadvantages associated with the Payback Criterion. d, Which of all the above-mentioned criteria is the best one for the appropriate selection of Independent and Mutually Exclusive projects