QUESTION 4 Investment Appraisal You are the Financial Manager of Camber Ltd and have been tasked with evaluating the following investment opportunitics. The three investment appraisal techniques which are to be used arc as follows: Payback Net Present Value (NPV) Internal Rate of Return (IRR) The company's Weighted Average Cost of Capital (WACC) is 14%. Investment Investment Investment B 200 M 160 M 190 M Initial Outlay End of Year 1 Return End of Year 2 Return End of Year 3 Return End of Year 4 Return 40 M 55 M 77M 90 M 80 M 70 M 65 M 50 M 70 M 70M 70M 70 M Discount Factors: Year 0 1 2 3 4 14% 1 0.877 0.769 0.675 0.592 30% 1 0.769 0.592 0.455 0.35 REQUIREMENT: (a) Calculate the Payback Period for each of the three investment opportunities (6 marks) (b) Calculate the Net Present Value for each of the three investment opportunities. (6 marks) (c) Calculate the Internal Rate of Return for each of the three investment opportunities. (6 marks) (d) Critically analyse the results from (a) to (c) above. (7 marks) Total (25 marks)