Please show all workings and formulats used, do not use excel

Tools etd8818,XFengp... BUSI 2503R Cour. Assignment 2 (opt....x bsinth (f). Newfoundland Vintners Co-operative and Brandy. Project Absinth requires a $20,500 cash outlay today and is expected to gencrate aftr- tax cash flows of $11,000 in year 1, $8,500 in year 2, and $7,500 in ycar 3. Project is considering two mutually exclusive projects: A Brandy requires a $30,000 cash outlay today and is expected to generate after-tax cash flows of $7.000 in year 1. S9,000 in year 2, $11,000 in year 3, and $16,000 in year 4. Both project can be replicated at the end of its life. The appropriate discount rate for both projects is 10 percent a) Calculate the NPV of both projects. Given that the projects are mutually exclusive and can be replicated, which project should be accepted? b) Calculate the payback periods of both projects if cash flows occur evnly throughout the year (12 marks) (6 marks) (6 marks) c) Calculate the discounted payback periods of both projects if cash flows occur evenly throughout the year d) Calculate the profitability index of both projects e) Which project should the firm choose using the information in (A) - (D)? Why? (5 marks) (6 marks) 2 3 4 8