Please show all intermediate steps and formulas used. Use excel to complete the problem.

Consider the following cash flows of two mutually exclusive projects for A-Z Motorcars. Assume the discount rate for both projects is 11 percent. AZM AZF Year Mini-SUV Full-SUV 0 -$845,000 $495,000 329,000 359,000 2 198,000 438,000 3 159.000 299,000 1 a. What is the payback period for each project? (Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. What is the NPV for each project? (Do not round Intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. What is the IRR for each project? (Do not round Intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) a. years AZM payback period AZF payback period AZM NPV years b. AZF NPV C. 996 AZM IRR AZF IRR 9%