Empire Manufacturing is considering two mutually exclusive projects with the following cash flows. Empire's cost of capital is 10 percent. Year Project A Project B 0 (485,000) (485,000) 1 0 155,000 2 0 152.000 3 0 131.000 4 0 110,000 5 0 108,000 6 1.000.000 98,500 a) Compute the Payback Period and MIRR for each project. Assuming the projects were mutually exclusive: b) If the payback criterion was four years, which project would be chosen? c) If the hurdle rate was 12% which project would be chosen based on MIRR? Assuming the projects were independent: d) If the payback criterion was four years, which project would be chosen? e) If the hurdle rate was 12% which project would be chosen based on MIRR