(a) Instrument Automation Ltd. is considering two mutually exclusive projects. As project manager you have been asked to evaluate the two projects on economic grounds and make a recommendation to the board. The estimated details of the investment and returns for the two projects are shown in Table 2. Year 0 1 2 3 4 5 Project 1 Project 1 Project 2 Project 2 Investment () Returns () Investment () Returns (6) 140,000 160,000 5,000 50,000 20,000 2,500 70,000 30,000 2,500 50,000 70,000 20,000 90,000 100,000 Table 2 Investment and Returns for Projects 1 and 2 (1) Evaluate the projects using the following methods . a. Return on Investment and b. Payback Period for each project c. Net Present Value using 8% interest rate