please show steps so I can learn to do problem, thank you.

P10-12 Payback and NPV Neil Corporation has three projects under considers cash flows for each project are shown in the following table. T cost of capital. deratio e firm has a Project AProject B Project C Initial investment (CFo)$40,000 $40,000$40.000 Year (t) Cash inflows (CF,) $13,000 S 7,000 $19,000 16,000 13,000 10,000 7,000 13,000 13,000 13,000 13,000 10,000 13,000 16,000 19,000 3 4 a. Calculate each project's payback period. Which project is preferred according b. Calculate each project's net present value (NPV). Which project is p c. Comment on your findings in parts a and b, and recommend the best pro this method? according to this method? Explain your recommendation. referred