Following are the 2 projects Richard Soderberg is thinking about investing in:

Project 1

Year	Free Cash Flow
0	($900) Initial Investment
1	($90)
2	$241
3	$273
4	$283
5-15	$280

*Project 1 initial investment at time zero is $900 (Outflow)

Project 2

Year	Free Cash Flow
0	($1900) Initial Investment
1	($1400)
2	$116
3	$635
4	$690
5	$755
6	$826
7-15	$849

*Project 2 initial investment at time zero is $1900 (Outflow)

Question) Find the following:

1) Discounted payback period of project 1 and 2 at the following rates: 8%,20%

2) Net Present Value of project 1 and 2 at the following rates: 8%, 20%

3) Profitability Index of both project 1 and 2

Note: Please do not solve using excel sheet formula or financial calculator