please avoid excel

please avoid excel calculations

Question 3 [20 Marks] Consider three mutually exclusive projects, Projects A, B, and C, that have the following cash flows: Year 0 1 2 End-of-year Cash Flow (in Rands) Project A Project B Project C - 100 000 - 100 000 - 100 000 24 000 37 000 24 000 37 000 24 000 37 000 24 000 132 500 24 000 6% 5% 7% 3 4 5 Cost of capital Required: 3.1. What is the net present value of each project? (6) 3.2. Using the equivalent annual annuity approach, which project is preferred? Explain. (14)