You are a senior manager at Poeing Aircraft and have been authorized to spend up to K400,000 for projects. The three projects you are considering have the following characteristics: Project A. Initial investment of K280,000. Cashflow at year 1 will be 190,000 while in year 2, will reduce to K170,000. This is a plant expansion program and as such, the required rate of return is 10.3 percent. Project B. Initial investment of K390,000. Cashflow at year 1 will be 270,000 while in year 2, will reduce to K240,000. This is a new product development project where the required rate of return is 20.4 percent. Project C. Initial investment of K230,000. Cashflow at year 1 will be 160,000 while in year 2, will increase to K190,000. This is a market expansion project where the required rate of return is 15.7 percent. Please offer your recommendations, back your analysis with using the following methods: (i) Payback period (ii) IRR (iii) NPV