please use text format not excel, thank youu.

Question 1 Pelangi Berhad is considering five independent projects. Pelangi Berhad has a policy of 5- year maximum acceptable payback period. The initial investment and after-tax cash inflows in RM(Ringgit Malaysia) associated with each project are shown in the following table: Project Project Project Project Project Cash flows A B D E Initial outflows 70,000 80,000 90,000 100,000 110,000 Cash inflows, year 1 to 5 27,500 28,500 29,500 31,500 32,500 From the above information you are required to answer the following questions. a. Calculate the Payback Period for each project. (5 Marks) b. Calculate the Net Present Value of each project, assuming the firm has a required rate of return of 15% (5 Marks) c. From your calculation in part (a) and (b), indicate which project or projects you would recommend. Explain your