Compute payback Period, NPV and IRR for both projects.

Evaluate the two projects' acceptability using the all three

decision criteria $($listed above$)$ and basing the conclusion on

the assumption that the projects are mutually exclusive$-$

that is$,$ both could be accepted if they are acceptable based

on the criteria.

Rank the two projects and make a recommendation as to

which $($if either$)$ should be accepted under the assumption

that the projects are mutually exclusive.

Complete the steps as outlined above and prepare a small

brief for the presentation to the board for the analysis.