4. A company is considering two mutually exclusive projects, S and T. The company requires a return of 15% or more from all its projects. The following table shows project cash flows in . Year 0 Project S Project T -600,000 -1,800,000 1 270,000 1,000,000 2 350,000 700,000 3 300,000 900,000 Required 0 0 0 0 Which project should be chosen based on the payback period rule? Which project should be chosen based on the NPV rule? Which project should be chosen based on the internal rate of return (IRR) method? Which of the previous three answers is the most important as regards maximising shareholder wealth