XYZ Corporation is considering two investment projects. Project A requires an initial investment of $50,000 and is expected to generate cash flows of $12,000 per year for the next 5 years. Project B requires an initial investment of $80,000 and is expected to generate cash flows of $20,000 per year for the next 4 years. The cost of capital for XYZ Corporation is 8%. a) Calculate the net present value (NPV) for each project and determine which project should be chosen based on NPV. b) Calculate the profitability index (PI) for each project and determine which project should be chosen based on PI. c) Calculate the internal rate of return (IRR) for each project and determine which project should be chosen based on IRR. Note: Assume that cash flows occur at the end of each year and use the formula: PV = CF / (1 + r)^n, where PV is the present value, CF is the cash flow, r is the discount rate, and n is the number of years