The intitil investment of a company in a project is $110$ and cash flow in year $1$ is $35,2$nd year$50,3$rd year $60,4$th year $50$ and $5$th year $75.$ The cost of capital is $8\%.$ The second initial investment is $138,1$st year cash flow $65,2$nd year $50,3$rd year $40,4$th year $20$ and $5$th year $10$ with cost of capiral also $8\%.$

calculate payback period for both. Calculate NPV for both

Calculate the IRR of both

critically discuss the merits of each appraisalmethod, then discuss the results of evaluation and advice which project to undertake