EFG Corporation is deliberating between two expansion projects, Project E and Project F, with the following particulars:

• Project E: Cost of Capital - 9%, Initial Investment - $280,000, Cash Inflow Year 1 - $60,000, Cash Inflow Year 2 - $70,000, Cash Inflow Year 3 - $80,000
• Project F: Cost of Capital - 8%, Initial Investment - $350,000, Cash Inflow Year 1 - $70,000, Cash Inflow Year 2 - $80,000, Cash Inflow Year 3 - $90,000 Perform a scenario analysis for Project E and Project F, considering optimistic, pessimistic, and most likely cash flow scenarios. Assess the impact of varying cash flow projections on the net present value (NPV) and advise on the risk associated with each project.