The benefits of proposed environmental projects will be realized over a 5-year timeframe. a) Given the relative discount rate of 5%, determine the present value of each of these projects. Please round to 2 decimal places. PV = Z/((1+r/100) N) Benefits ($) in Year: 1 2 3 4 5 Yrs 1-5 Project A 20 20 20 20 20 100 Project B 60 10 10 10 10 100 Project C 10 10 10 20 50 100 PVA = PVB = PVC = b) If these projects had the same initial cost of $50, (Cost A = Cost B = Cost C = $50) which project would be preferred? Why? c) If these projects had the same initial cost of $95 (Cost A = Cost B = Cost C = $95) which project would be preferred? Why d) How does the present value of each project change if the relevant discount rate is 1% instead of 5 percent? e) Referring to part c), which project would be preferred considering a 1% discount rate