Excellence Through Knowledge Limited (ETK) is considering two projects in Central America. The initial capital outlay for each project is US $166,000. The cost of capital for the company is 12%. The cash flow for each project is detailed in the table below. Year Restaurant $ Landscaping $ Initial Outlay (166,000) (166,000) 1 84,000 60,000 2 68,000 0 3 0 60,000 4 60,000 75,000 5 63,000 80,000 i.) Calculate each projects Payback period (4 marks) ii.) Assuming that the projects are mutually exclusive, which project(s) would you recommend according to the Payback period? Why would you make this recommendation? (2 marks) iii.) Calculate each projects Net Present Value (NPV). (6 Marks) iv.) Assuming that the projects are independent, which project(s) would you recommend according to the NPV? Why would you make this recommendation? (2 Marks) v.) Calculate each projects Discounted Payback Period. (6 Marks) vi.) Explain the two (2) major problems with the Internal Rate of Return (IRR) that are addressed by using the Modified Internal Rate of Return (MIRR). Explain how the MIRR addresses these problems.