Your boss is comparing 3 independent projects with the following characteristics: Project #1 Project #2 Project #3 Net Present Value $250 $310 $280 Internal Rate of Return 12.53% 1 1.03% 9.08% Profitability Index 2.50 1.80 1.01 Payback period 4.5 years 4.5 years 2.6 years The required payback period is 5 years, and the required return is 9%, Which project would you recommend your boss to accept? Project #1 Project #2 Project #3 All three projects None of the projects