Your firm faces the following investment alternatives, and can only select one project.

Project A Project B Project C Project D Project E

Time 0-10,000 -10,000 -10,000 -10,000 -10,000

Time 1 5,000 4,000 3,000 4,000 2,000

Time 2 4,0003,000 4,000 4,000 6,000

Time 33,000 10,000 5,000 4,000 10,000

a) Calculate the payback period for each project. If your company wants the shortest payback period possible, which project should you chose.

b) Calculate the IRR for each project. Which project should you choose?

c) Calculate the NPV for each project if the cost of captial is 8%. Which project should you choose.

Please show all work. Namely, functions used for example CF0 =, CF01 = F01 =