QUESTION 3 (20 Marks Note: Where applicable, use the present value tables provided in APPENDICES 1 and 2 that appear after the formula sheet. REQUIRED Use the information provided below to answer the following questions: 3.1 Calculate the Payback Period of Project A (expressed in years, months and days). (3 marks 3.2 Calculate the Accounting Rate of Return on average investment of Project A (expressed to two decimal places). (4 marks 3.3 Calculate the Net Present Value of each project. Show the calculations of the present values as well as the net present value. (6 marks (1 mark 3.4 Using the Net Present Value, which project should be chosen? Why? (1 mark 3.5 Calculate the Internal Rate of Return of Project B. Your answer must include two net present value calculations and the steps to express the IRR to two decimal places. (6 marks (15) INFORMATION