Here are the expected net cash flow estimates $($in thousands of dollars$)$:

Year Project L Project S

$0($$$100)($$$100)$

$11070$

$26050$

$10.$ Here are the expected net cash flow estimates $($in thousands of dollars$)$:

Year Project L Project S

$0($$$100)($$$100)$

$11070$

$26050$

$38020$

Depreciation, salvage values, net working capital requirements, and tax effects are all included in these cash flows.$-$

The company's chief financial officer made subjective risk assessments of each project and concluded that both projects have risk characteristics similar those of the firm as a whole. Uniate$$s required rate of return is $10$ percent. You must now determine whether one or both of the projects should go forward.

a$.$ Find the payback periods for Project L and Project S$.(5$ Points$)$

b$.$ What is each project's NPV and IRR? $(10$ Points$)$

c$.$ Which project would you select and why? $(5$ Points$)$

d$.$ What if project S was riskier than project L and had a required return of $12\%.$ Which project would you select now and why? $(5$ Points$)$