Question 5 (12 marks) University The parts a) and b) below are independent questions which do not relate to each other. a) Answer parts i, li and ill 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 Project Alpha Project Beta 0 -$48,000 -$15,000 1 $20,000 $9,000 2 $25,000 $16,000 3 $10,000 $3,000 4 $6,000 $4,000 Calculate the payback period in years for each project. Round your answer to 2 decimal places (4 marks) il. Calculate the net present value (NPV) for each project. Round your answer to the nearest cent. (4 marks) lil. Considering the results above, which project should be accepted? Provide your reason (1 mark) b) Project X and Project Y are independent projects with conventional cash flows. The internal rate of return (IRR) for each project is given below: Project IRR Project X 17% Project Y 12% Company A, Company B and Company C need your advice on whether or not they should invest in the projects. The cost of capital for each company is given below: Company Cost of Capital Company A 8% Company B 13% Company 18% Provide your advice to each company on each project in the table below by answering "Yos" for accepting the project, "No* for rejecting the project and "Not Sure" it more information is required for decision making (3 marks) Company A Company B Company Project X Project Y