Question 2 (15 marks) HTBM Tech Inc. is considering investing in either of two competing projects that will allow the firm to eliminate their production bottleneck and meet the growing demand for its products in the market. HTBM's production department narrowed the options down to two - Pongpong and Pipi. Working with the accounting and finance managers, HTBM's CFO developed the following estimates of the cash flows for Pongpong and Pipi over the relevant six-year time horizon. HTBM requires 15% return viewing these projects as equally risky. Required: a) Calculate the net present value (NPV), the internal rate of return (IRR) and the payback period for each project. Indicate which project is best using NPV, IRR and payback period. (6 marks) b) Which of the two mutually exclusive projects would you recommend that HTBM Tech Inc. undertake? Why? (3 marks) c) List the key problems associated with the use of IRR and payback method? (3 marks) d) What are the key factors of estimating net present value (NPV) successfully in the capital budgeting