Please follow the directions below, in evaluating the following two 5-year projects for the Ekstein Corporation, based on these estimated net cash flows per year: Project Psi Project Omega Year 0 $(550,000) $ (550,000) Year 1 140,000 80,000 Year 2 140,000 80,000 Year 3 140,000 80,000 Year 4 140,000 300,000 Year 5 230,000 200,000 REQUIRED: a. Find the payback period in years and months (i.e., your answers should be in the form "x years and y months", assuming some months are needed as well as full years) for each project. b. Based on the payback period decision rule, which project is the better choice? Why? c. For each of the two projects described below, please find the NPV, using a 7% cost for money. And on the basis of your 7% NPVs, decide which project should be undertaken, if only one of them can be chosen. d. For each of the two projects above, please find the Pl. And on the basis of your Pls, decide which project should be undertaken, if only one of them can be chosen. e. What is in this data, that makes it easy to compare these two Pls? f. Calculate the IRR for each project separately. 8. The actual WACC for Ekstein Corporation is 18.56%. On that basis, and the IRRs you have calculated, please decide which project Ekstein should accept and begin working on. (20 marks, divided 4, 1, 4, 2, 1, 6,2)