Two projects, Y and Z, have the following cash flows: Year 0 1 2 3 Project Y -500 400 250 150 Project Z -1700 700 800 950 Project Y and Project Z are mutually exclusive. The discount rate is 8%. Which of the following is not true? O a. The payback period for Project Z is longer than that of Project Y. O b. Because the PI of Project Y is higher than that of Project Z, Project Y should be chosen. c. NPV of Project Z is 388.16. O d. The PI (profitability index) of Project Y is higher than the PI of Project Z. e. The payback period of Project Y is less than 2 years