Question 2 (13 marks) Lab Tech Company is considering the following risk control project: Year 0 1 2 3 4 Project X Cash Flow -$80,000 $25,000 $35,000 $50,000 $80,000 a. Lab Tech requires a payback cutoff period of 3 years and uses a discount rate of 14%. Should Lab Tech accept the project if the initial cost is $80,000 according to the Payback criterion? 4 marks b. Should Lab Tech accept the project if the initial cost is $80,000 according to the Discounted Payback criterion? 4 marks d. Briefly discuss the problems of using Payback and Discounted Payback criterion to evaluate cash flows in capital budgeting. 5 marks Show all your calculations