Treats	Food	Toys
	Cash Flows
Initial Investment	$ 4,000,000	$ 3,800,000	$ 4,400,000
1	$ 1,200,000	$ 800,000	$ 2,300,000
2	$ 1,400,000	$ 1,000,000	$ 1,900,000
3	$ 1,500,000	$ 1,700,000	$ 1,000,000
4	$ 1,800,000	$ 2,200,000	$ 800,000
Std. Deviation of IRR	10%	8%	12%
1. Calculate Payback Period, NPV, IRR, and MIRR for all projects.
Which project(s) should the firm accept? Explain in detail the reasons for your recomendation.