Question 1 (30 marks) Happy Manufacturing Co. is considering preparing to invest in the robots and cobots, integrating automation into its production Project A or Project B. To analyze these alternatives, Peter Chow, a financial analyst, prepared estimates of the initial investment and cash inflows associated with each project. These are shown in the following table. Year Project A ($) Project B ($) 0 (1,150,000) (900,000) 1 386,000 250,000 2 334,000 250,000 3 312,000 250,000 4 275,000 250,000 5 240,000 300,000 Note that Peter plans to analyze both projects over a 5-year period. Peter believes that the two projects are equally risky and that the acceptance of either of them will not change the firms overall risk. He therefore decides to adopt the firms 11% cost of capital as the required rate of return. Happy Manufacturing Co. requires all projects to have a maximum payback period of 4 years. (i) Use the payback period to determine which project should be chosen. Explain. (6 marks) (ii) Use the discount payback period to determine which project should be chosen. Explain. (7 marks) (iii) Use NPV to determine which project should be chosen. Explain. (8 marks) (iv) Which project should be chosen if based on Profitability Index instead? Explain. (4 marks) (v) Summarize the preferences indicated by the techniques used in parts (i) to (iv). Explain which project should be chosen? (5 marks)

i need the mathematical formula thank you

NEWS 2 (GlobeNewswire, 24 Jan 2023)2 Smart Manufacturing market is projected to grow at a CAGR of 14.7% by 2033: Visiongain Reports Ltd Visiongain has published a new report entitled Smart Manufacturing 2023-2033.. The global smart manufacturing market was valued at US$97.81 billion in 2022 and is projected to grow at a CAGR of 14.7% during the forecast period 2023-2033. Advancement in Digital Technologies Will Boost the Demand for Smart Manufacturing Investing in digital transformation is critical to unlocking the industrial machinery trends that will accelerate and improve critical manufacturing and engineering processes, but establishing accurate data collection is critical to its success. More businesses will recognise the value of leveraging digitalization to implement modern manufacturing technology by 2023. In a simulated environment, digitalization also supports smart manufacturing and digital engineering functions. As artificial intelligence (AI) and machine learning (ML) technologies improve the capabilities of robots and cobots, integrating automation into manufacturing and engineering processes will become easier and more accessible. Manufacturers will encourage the use of AI and ML in their manufacturing and production processes as they simplify robotic programming and improve safety. Automation technology updates will make it easier to use, allowing workers with little experience in robotic programming to operate robots and cobots. Robots and cobots will be the next trend in manufacturing automation as this technology becomes more accessible and easier to implement.