tion 3 [8 Marks] Refer to the impact of varying discount rates on the Net Present Value (NPV) evaluation of two mutually exclusive projects with different time horizons. i) Why might a project with a shorter duration be favored at higher discount rates, while a longer-term project gains preference at lower rates? Explain. (3 marks) Additionally, could fluctuations in the discount rate ever influence the Internal Rate of Return (IRR) rankings of these projects? Justify. (2 marks) hy is the net present value (NPV) method considered to be a superior method of aluating the cash flows of a project? Elaborate your answer by assuming an NPV for roject's cash flows to be $750