Question 3 (14 + 6 + 2 = 22 marks) Trident Corp. is evaluating two independent projects. The costs and expected cash flows are given in the following table. Year 0 A $(312,500) $121,450 $121,450 B $(395,000) $153,552 $158,711 1 2 3 $121,450 4 $121,450 $121,450 $166,220 $132,000 $122,000 5 Required: (a) Assuming a discount rate (interest rate) of 10% p.a., calculate the projects' NPV. Show your workings. (b) What is the payback period of each of the above mentioned projects? Show your workings. (C) Which project should be chosen based on NPV