Excellence Through Knowledge Limited (ETK) is considering two projects in South America. The initial capital outlay for each project is US $110,000. The cost of capital for the company is 4%. The cash flow for each project are detailed in the table below. Year Restaurant $ Landscaping $ Initial Outlay (110,000) (110,000) 12345 34,000 48,000 36,000 40,000 0 25,000 27,000 0 33,000 11,000 1.) Calculate each project's Payback period (4 marks) 11.) 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) CHI iv.) Calculate each project's Net Present Value (NPV). (6 Marks) 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 project's Discounted Payback Period. (6 Marks)