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1. Timing differences: two mutually exclusive investment projects have the following forecasted cash flows: Year 0 1 2 3 -$1,200 +$1,000 +$ 500 +$ 80 0 -$1,200 +$ 100 +$ 600 +$1,083 a. Compute the NPV of Project Pat a zero percent discount rate. b. Compute the NPV of Project Q at a zero percent discount rate. c. Calculate the IRR of Project P to the nearest whole percent [Answer: 22%] d. Calculate the IRR of Project Q to the nearest whole percent. (Answer: 17%) e. What is the NPV of Project P at a 9 percent cost of capital? f. What is the NPV of Project Q at a 9 percent cost of capital? g. Based on the answers to parts (c), (d), (e) and (t), which project would you select? h. What is the NPV of the incremental cash flow stream at an 11 percent discount rate? i. Draw the NPV profiles for Projects P and Q. On your diagram indicate the project NPVs at a zero percent discount rate, the project IRRs and the crossover discount rate