In facing competition, Apple Inc. is debating whether to enter the TV business by launch a iTV or to introduce a smart home control system called iHome, or a fitness center called i investment and cash flows for the three proposed projects are: Year 0 1 2 3 4 5 iTV (40) 25 25 15 15 15 Home (65) 20 20 20 40 40 iFit (120) 30 30 80 80 80 (a) Among iTV and iHome, which project should Apple choose if the discount rate is 10 project should Apple choose if the discount rate were 15% instead, and why? (b) By examining the pattern in the NPVs, which project has a higher internal rate of rett each project using "trial-an-error" method. Is there any reason to believe that the pro IRR is the better project? (c) What is the pure payback period for the first two projects each project? Is there any r the project with shorter payback is the better project? (d) Compute the profitability indexes for each project. Suppose Apple has a $120 millio The projects are not divisible. Which project(s) should be taken