Please show all working and equations used and not on excel, thank you.

Question 3 Galaxy Satellite Co. is attempting to select the best group of independent projects competing for the firm's fixed capital budget of $10,000,000. Any unused portion of this budget will earn less than its 20 percent cost of capital. A summary of key data about the proposed projects follows. Project B D Initial Investment $3,000,000 9,000,000 1,000,000 7,000,000 IRR 21 25 24 23 PV of Inflows at 20% $3,050,000 9,320,000 1,060,000 7,350,000 a) Use the NPV approach to select the best group of projects. b) Use the IRR approach to select the best group of projects. c) Which projects should the firm implement? Explain why and discuss any qualifications