what is the payback period for both projects

Question 3 JDH Investments Limited is considering the following two tourism investment options, both with a 10% required rate of return and a five-year lifespan. CASH FLOWS YEAR PROJECT P PROJECT Q $ 0 (60 000) 60 000) 20 000 50 000 30 000 20 000 AWN 40 000 5 000 50 000 5 000 60 000 5 000 A. Calculate the: i. payback period for both projects. (5 marks) ii. Net Present Value. (7 marks) iii. Profitability Index (4 marks) B. Using the information calculated at A. which project should be selected, assuming that the projects are: i. mutually exclusive ii. independent Justify your response. (4 marks) (Total 20 marks)