The cash flows associated with three independent projects (in millions) are as follows Net Cash FlowsProject Alpha Project Beta Project Gamma $7,500,000 $2,000,000 S3,000,000 $2,000,000 S1,500.000 S5,500,000 Year 0 Year l Year 2 Year 3 Year 4 Year 5 $1,500,000 S300,000 S500,000 S500,000 S400,000 S300,000 S400,000 $100,000 S200,000 S200,000 S100,000 $200,000 Calculate the payback period of each investment a) b) Which investments does the company accept if the cut-off payback period is three years? What if the cut-off is four years? c) Which one of these projects is a project that almost certainly should be rejected, but might be accepted if the company uses the payback period method? Explain d) Which one of these projects almost certainly should be accepted (unless the company's discount rate is very high), but might be rejected if the company uses the payback period method. Explain e) What is the maximum number of internal rates of return that each project can have and why