Hello, please provide step by step calculation and reasoning because I will be using it for understanding and revision purposes. Thank you.

A firm has to choose between three possible projects where there is an initial capital cost (payable ow) and forecasts for the net cash inflow at the end of each year for a 5 year period for each oroject. The details of each project are as follows: Assume an interest rate of 8%. The formula for Net Present Value is: (1+r)tX where X is the amount to be adjusted, r is the interest rate as a fraction and t is the time period in years. a) Calculate the Discount Factors for each of the 5 years based on this interest rate. b) Calculate the total Discounted Cash Inflow for each of the projects across the 5 years. c) Based on these figures, which project is the most financially attractive? (Hint: you will need to compare the Net Present Value for each project taking into account the initial capital costs and the discounted cash inflow for each project)