Question 5 (12 marks) The parts a) and b) below are independent questions which do not relate to each other. a) Answer parts i, ii and iii based on the information below: Jackson Ltd is considering two mutually exclusive projects with the same cost of capital of 12%. The estimated net cash flows for each project are as follows: Year 0 1 2 3 4 Project Alpha Project Beta -$48,000 -$15,000 $20,000 $9,000 $25,000 $16,000 $10,000 -$3,000 $6,000 $4,000 i. Calculate the payback period in years for each project. Round your answer to 2 decimal places. (4 marks) ii. Calculate the net present value (NPV) for each project. Round your answer to the nearest cent. (4 marks)