The following are two unrelated scenarios: (a) Krispy Fried Chicken is contemplating three independent investments opportunities: Pies; Muffins, and Cakes. Each project has the following annual cash flows: ($ millions) o 1 2 Pies 20 -100 85 Muffins -100 215 -100 Cakes -120 60 80 The relevant opportunity cost of capital for these projects is 5% p.a. (i) Calculate the net present value for each project. Which project(s) should Krispy Fried Chicken undertake? Explain your decision. [4 marks] (ii) Calculate the profitability index for each project. Now assume that Krispy Fried Chicken has only $100 million to invest, would their decision change? Explain. [4 marks)