The following table contains information about four projects in which Melody Corporation has the opportunity to invest. This information is based on estimates that different managers have prepared about the company's potential project. Project Investment Required Net Present Life of Value Internal Probability Project Rate of Index Payback Period Return In Years A $220,000 $61,190 5 23% 1.28 2.82 B $410,000 $37,744 6 22% 1.09 3.20 C $1,030,000 $191,498 3 18% 1.19 2.17 $1545,000 $52,680 4 12% 1.03 3.07 Which project is preferred according to the NPV method? Your answer Which project is preferred according to the IRR method? Your answer Which project is preferred according to the payback period method? Your answer If the projects are mutually exclusive, which should the company invest in? Justify