Question 3 (10p) You are the CEO of a large company and have to evaluate three mutually exclusive projects, described below. Your CFO has estimated that the company's cost of capital is 7%. Project 1: You invest $80 million today and receive $40 million every year for 8 years Project 2: You invest $75 million today and receive $20 million every year forever Project 3: You invest $50 million today and receive $500 million in 20 years a. Using the NPV rule, what project should you pursue? b. What is the NPV of the chosen project? Answer in dollar amount with two decimals (i.e. 533.31)