Required:

$4\mathrm{.}1.$ Which project is more lucrative if the payback rule is applied? $(8)$

$4\mathrm{.}2.$ Apply the Accounting Rate of Return $($ARR$)$ test for project A $(8)$

$4\mathrm{.}3.$ Determine which project is more lucrative if the NPV rule is applied. $(12)$

your choice of answer $($by critically assessing each of the above calculations that

you have made$).$