Task: Senior management asks you to recommend a decision on which project(s) to accept based on the cash flow forecasts provided. Relevant information: The firm uses a 3-year cutoff when using the payback method. The hurdle rate used to evaluate capital budgeting projects is 15%. The cash flows for projects A, B and C are provided below. \begin{tabular}{|lccc|} \hline & Project A & Project B & Project C \\ Year 0 & 30,000 & 20,000 & 50,000 \\ Year 1 & 0 & 4,000 & 20,000 \\ Year 2 & 7,000 & 5,000 & 20,000 \\ Year 3 & 20,000 & 6,000 & 20,000 \\ Year 4 & 20,000 & 7,000 & 5,000 \\ Year 5 & 10,000 & 8,000 & 5,000 \\ Year 6 & 5,000 & 9,000 & 5,000 \\ \hline \end{tabular} 1. Assume the projects are independent and answer the following: - Calculate the payback period for each project. - Which project(s) would you accept based on the payback criterion? - Calculate the internal rate of return (IRR) for each project. - Which projects would you accept based on the IRR criterion? - Calculate the net present value (NPV) for each project. - Which projects would you accept based on the NPV criterion? 2. Assume the projects are mutually exclusive and answer the following: - Which project(s) would you accept based on the payback criterion? - Which projects would you accept based on the IRR criterion? - Which projects would you accept based on the NPV criterion