QUESTION TWO Olsen Engineering is considering including two pieces of Equipment; a truck and overhead pulley system in this year's capital budget. The projects are independent. The cash outlays for the truck is 224,300/= and for pulley system is 171,000/=. Each piece of Equipment has an estimated useful life of 5 years. The annual cash flows expected to be provided by the truck is 75,000/= and for the pulley is 51,000/=. The firm's required rate of return is 14%. Required a) Calculate the Payback period for each project (3 Markso b) Calculate the Net Present Value (NPV) for each project (3 Marks) c) Calculate the Internal Rate of Return (IRR) (3 Marks) d) Calculate modified Internal Rate of Return ( MIRR) (3 Marks) e) Which project (s) should be accepted? ( 3 Marks)