Choosing between two projects with acceptable payback periods Shell Camping Gear Inc. is considering two mutually exclusive projects. Each requires an initial investment (CF0) of $100,000. John Shell, president of the company, has set a maxir m payback period of 4 years. The after-tax cash inflows associated with each project are shown in the following table. a. Determine the payback period of each project. b. Because they are mutually exclusive, Shell must choose one, Which should the company invest in? c. Explain why one of the projects is a better choice than the other. P10-10 NPV: Mutually exclusive projects Hook Industries is considering the replacement of one of its old metal stamping machines. Three alternative replacement machines are under consideration. The relevant cash flows associated with each are shown in the following table. The firm's cost of capital is 15%. a. Calculate the net present value (NPV) of each press. b. Using NPV, evaluate the acceptability of each press. c. Rank the presses from best to worst, using NPV. d. Calculate the profitability index (P1) for each press. e. Rank the presses from best to worst, using Pt