You are the financial manager for Banko Investment Company Limited. Your company is deciding between two projects, X and Y to invest in. The following are details regarding both projects. Presently, Banko Limited has available cash amounting to GH500,000 and a readyto-access loan of GH1,500,000 at a rate of 15% interest per annum. Equity shareholders require a return of 25% on their investments. Assume corporate tax rate is 30%. (Show all relevant calculation) Required: a.CalculatethePaybackPeriodforbothprojects.b.CalculatetheNPVforbothprojects.c.CalculateProfitabilityindexforbothprojects.d.CalculatetheInternalrateofreturnforbothprojects.(12marks)(4marks)(2marks) e. Advise Management based on your calculations above on which of the two projects Banko Limited should invest in. Provide relevant reasons to support your answer. (10 marks) Question 2 - (20 Marks) a) Distinguish between the following types of financial markets: i. Debt and Equity markets ii. Primary and Secondary markets iii. Exchanges and Over-the-counter markets (4 marks) (4 marks) (4 marks) b) Explain and distinguish between the Pecking Order and Trade-off theories of capital structure (8 marks) 8