Eliteone PLC is considering the following two projects for its hardware division: Project A and Project B. Eliteone PLC can only afford to invest in one of them. The companys hurdle rate for capital project appraisal purposes is 12.75%. The estimated cash flows of the two projects are as follows: Time (years) 0 1 2 3 4 5 Project A (m) (12) 10 0 0 24 8 Project B (m) (14) 8 8 12 4 0 a) Due to a major refit for both projects, the company is expecting to incur costs in the future for updating their projects. While the expected costs for updating Project A are 5m in year 2 and 6m in year 4, the expected costs for Project B are 6m in year 1 and 5m in year 4. Calculate the NPV of both projects and determine which project the company should choose. (4 marks) b) Determine which project the company should choose using the payback period method and state your reasons. (2 marks)