Consider the following two mutually exclusive projects: Cash Floww Year Cash Flow 51,500 25,000 23,000 20,500 15,600 0 340,000 55,000 75,000 75,000 450,000 Whichever project you choose, if any, you require a return of 16 percent on your investment. a) What is the payback period for each project? lf you apply the payback criterion, which investment will you choose? b) What is the discounted payback period for each project? If you apply the discounted payback criterion, which investment will you choose? c) What is the NPV for each project? If you apply the NPV criterion, which investment will you choose? d) What is the IRR for each project? If you apply the IRR criterion, which investment will you choose? e) What is the profitability index for each project? If you apply the profitability index criterion, which investment will you choose? f) Based on your answers in (a) through (e), which project will you finally choose