Financial Management Post Mid Term Assignment Question: Nicholson roofing Materials Inc., is considering two mutually exclusive projects each with the initial investment of $150,000. The company's board of directors has set a maximum 4- year payback requirement and set its cost of capital at 9%. The cash inflows associated with the two projects are shown in the following table: Year Project A Project B ($) ($) 45,000 75,000 2 45,000 60,000 45,000 30,000 45,000 30,000 5 45,000 30,000 45,000 30,000 Requirements: 1 3 4 6 (a) Calculate the payback period of each project. (b) Calculate the NPV of each project at 0%. (c) Calculate the NPV of each project at 9%. (d) Derive the IRR of each project. (e) Prioritize a suitable project on the basis of each above cases. Justify your recommendations