Three mutually exclusive projects are being considered for a remote area: Project A has the present value of benefits of $20 million and the present value of costs of $10 million; Project B has the present value of benefits of $30 million and the present value of costs of $25 million: Project Chas the present value of benefits of $25 million and the present value of costs of $22 million. It is assumed that the life of project A is 15 years, the life of project B is 10 years, and the life of project C is 5 years, and there is no externalities. Required: a. Calculate the benefit-cost ratio and net benefits for each project. (10 marks) b. If only one of the three projects can be selected, which project should be selected . i) from the firm's perspective (10 marks) . ii) from the society's perspective (10 marks) Three mutually exclusive projects are being considered for a remote area: Project A has the present value of benefits of $20 million and the present value of costs of $10 million; Project B has the present value of benefits of $30 million and the present value of costs of $25 million: Project Chas the present value of benefits of $25 million and the present value of costs of $22 million. It is assumed that the life of project A is 15 years, the life of project B is 10 years, and the life of project C is 5 years, and there is no externalities. Required: a. Calculate the benefit-cost ratio and net benefits for each project. (10 marks) b. If only one of the three projects can be selected, which project should be selected . i) from the firm's perspective (10 marks) . ii) from the society's perspective (10 marks)