a. Describe the payback model as a tool to select and prioritize project (20 marks). b. What are the limitations of the payback model? (20 marks) c. A five-year project has a projected net cash flow of $15,000, $25,000, $30,000, $20,000, and $15,000 in the next five years. It will cost $50,000 to implement the project. If the required rate of return is 20 percent, conduct a discounted cash flow calculation to determine the NPV. Would you accept this project based on the NPV (60 marks)