Can you please help me understand how to do backward induction for selecting projects? Thank you!

Using the principle of backward induction, please select the optimal project among project 1, project 2, and the RiskFree project. Redraw the decision tree in a separate piece of paper and annotate the expected values at each node, cross out suboptimal branches, and annotate the NPV of Project 1, 2, and RiskFree. Ignore discounting (discount rate r = 0) Attach your solution to this question expand Payoff = $200 contract Payoff = $120 60% expand Payoff = $65 40% Project 1 cost = $120 contract Payoff = $80 expand Payoff = $300 Project 2 cost = 30% $110 Payoff = $90 contract 70% Payoff = $80 Risk-free project cost = $100 Payoff = $120