Question 3 (12 marks) Consider the following two mutually exclusive projects (A and B). Year Cash Flow (A) Cash Flow (B) 0 - $47,000 - $ 38,000 1 30,000 29,500 2 15,000 15,000 3 13,000 Whichever project you choose, if any, you require a 10 percent return on your investment. (a) Calculate the payback period for each project. (4 marks) (b) Calculate the net present value (NPV) of each project (4 marks) (c) Based on your answers in (a) and (b), which project will you finally choose? Explain. (4 marks)