Question 1: Evaluating a significant investment project (14 marks) Bonnie is considering the following three projects and its required rate of return on all projects is 20% per annum. The net cash flows from the three projects are as follows: You are tasks to advise Bonnie and her executive team on the following issues: i) What are the net present value and internal rate of return for each of the three projects? If the three projects are independent, which projects should be selected? [4 marks ] ii) If the three projects are mutually exclusive, which project should be selected based on the results in (i)? Which method should be used in selecting mutually exclusive projects if the NPV and IRR methods present conflicting rankings? Explain why. Will the decision in (ii) based on the NPV method be different if the life of project C is 5 years (same cash flow for year 5)? Justify your analysis. [6 marks] iii) Based on the same data and results in (i), but only $50,000 is available for investment, which projects should be selected? Give reasons.? [4 marks]