1. (4 pts) AgEcon Coop is considering two mutually exclusive projects, i.e., they can only pick one. The schedule of cash flows is given below: a. Describe the two investments. To do so you need to discuss main differences in the two investments that could affect the capital budgeting methods. b. For the payback period method: d. For the NPV method: - Express the mathematical formula. Meaning set up the net present value expression without calculating the actual value for each project. - Calculate the NPV for each project considering a 6% using tables - Calculate the NPV for each project at a 6% interest rate using Excel. - Recalculate in Excel the NPV for each project at an 11% interest rate. e. For the PI method: - Calculate, in Excel, the PI for each project at a 6% and 11% rate. f. For the IRR method: - Calculate, in Excel, the IRR for each project g. Complete the following table summarizing your answers from Excel. Remember that AgEcon Coop can support only one project. - If the desired payback period is three (3) years, which project will you choose? What if the desired payback period is four (4) years? Explain. - If you apply the NPV criterion, which project will you choose? Explain. - Based on the PI criterion, which project will you choose? Explain. - Do you notice any inconsistencies in ranking the projects using the PI? Explain