SECTION 2 Max Laboratories is evaluating there independent projects. Project 1: Dog Treats, Project 2. Dog Food, and Project 3: Dog Toys. Use the firm's WACC calculated above to evaluate the projects. Treats Food Toys Cash Flows Initial Investment 4.000.000 3.800.000 4,400,000 1 1,20).000 800,000) 2.300,000 2 1.400.000 1.000.000 1.000.000 3 1.500.000 1.700.000 1.000.000 1.800.000 2,200.000 800,000 Std. Deviation of IRR 10% *% 12% L. Calculate Payback Period. NPV, IRR, and MIRR for all projects Which projects should the firm accept? Explain in detail the reasons for your recomendation For example, if you get a positive negative NPV, is that a good or bad influence on your decision to approve reject the project being evaluated? Also what is the criteria for IRR and MIRR