Question 2 [ Capital Budgeting] Calculate the Pay Back Period, NPV, and IRR of the following projects assuming a 10% required return and critical acceptance level of pay back period of 3 years. Cash Flows ( $ 000) Project A Project B Project C Project D Initial Cash outlay -1,000,000 -1,000,000 -1,000,000 -1,000,000 Cash Inflow Year 1 400,000 150,000 300,000 75,000 Cash Inflow Year 2 400,000 100,000 450,000 50,000 Cash Inflow Year 3 225,000 550,000 350,000 425,000 Cash inflow Year 4 200,000 500,000 200,000 487,500 Cash inflow Year 5 150,000 300,000 200,000 350,000 Which project(s) should we accept if they are independent? Mutually Exclusive