Fuzuki PLC is considering two mutually exclusive investment projects: Project: Project Life Initial investment in plant and equipment 6 years 000 200,000 B 4 years L000 100,000 Net cash flows: Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Net Present Value (10%) Internal Rate of Return (approx) 25,500 27,500 32.500 42,500 69,500 161,500 16,512 18.8% (a) Determine the net present value of project A using Fuzuki's required rate of return on projects of 10% (show all workings). (5 marks) (b) Determine the internal rate of return on project A (show all workings). Which investment should be undertaken? (5 marks) (d) Explain how a firm can select the best project(s) from a set of investment projects when there are limited funds available so that not all projects with a positive NPV can be selected (5 marks) (e) Critically discuss net present value, internal rate of return and payback period as criteria for investment appraisal. (10 marks)