QUESTION TWO [25] H enterprises have three projects. Each project requires the same initial investment of R1 000 000. H chief financial officer has prepared the following cash flow projections for each project: Year Project x Project y Project z 1 1250 000 0 500 000 2 1250 000 0 2000 000 3 1250 000 0 2000 000 4 1250 000 5000 000 500 000 Jim H, the company president is unsure of which project to pursue. Each holds promise for the company, but he is confused about what to do because each project generates the same amount of cash flow over the year period. Required: 2.1 Ignoring taxes, compute the net present value of each project at a 15% cost of capital. (20) Explain which project should be chosen. (3) 2.2