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Questions 14 and 15 are based upon the details below. Consider Projects Gamma and Omega which are mutually exclusive. The cash flows of the two projects are as follows: Year 10 1 2 3 14 Project Gamma, MUR Project Omega, MUR (22,000) |(24,000) 17,000 11,000 13,000 10,000 4,000 3,000 9000 The cost of capital amounts to 11%. (xiv) What are the payback periods for both projects? A. B. C. D. Gamma 2 years and 6 months 2 years and 6 months 3 years and 6 months 3 years and 6 months Omega 2 years and 4 months 3 years and 4 months 3 years and 4 months 4 years and 4 months [5 marks] (xv) The Internal Rate of Return for Omega is equal to: A. B. C. D. Between 8 and 9 % Between 9 and 10% Between 10 and 11% Between 11 and 12% [6 marks]