Timbers Ltd$.$ is currently assessing available long term projects, and has identified two such projects that require further evaluation. Projects C and D both have a cost of $$400,000$ and a cost of capital of $15\%.$ The projects' net cash flows are as follows:$4140,000($i$)($ii$)($iii$)($iv$)($V$)($vi$)$Calculate each project's payback periodCalculate each project's NPV$(4$ Marks$)(8$ Marks$)$Assuming that the projects are independent, which projects$)$ would you recommend for the company according to the NPV$?$ Why would you make this recommendation?$(2$ Marks$)$Calculate each project's Discounted Payback Period.$(6$ Marks$)$What are mutually exclusive projects?$(3$ marks$)$How should mutually exclusive projects be ranked?$(2$ marks$)$END OF EXAMINATIONYEARPROJECT A $(5)$PROJECTBY $($S$)0($$$400,000)($$$400,000)200,000130,000190,000170,000170,000160,000$