Question 1 has already been answered. Please answer question 2 below the table only.

1. Find out the NPV, IRR and Payback period for each of the following three projects.

Assume I=6%.

(60 points)

Project	CF0	CF1	CF2	CF3	CF4	CF5
A	-12,000	3000	3000	4000	4000	1000
B	-12,000	4000	4000	3000	3000	1000
C	-12,000	3000	3000	3000	3000	1000
D	-12,000	5000	3000	5000	3000	0
E	-12,000	3000	3000	3000	3000	5000
F	-12,000	0	0	6000	6000	6000

2. Using the above projects (proper explanation is required) (40 points)

1. Which of the above projects would you invest in? Why?
2. If you have only $12,000 which one of the projects would you invest in? Why?
3. If you have only $24,000 which of the projects would you invest in? Why?
4. If you have only $36,000 which of the projects would you invest in? Why?