Use the editor to format your answer Question 3 33 Points Consider the following mutually exclusive projects: Cash flows ... Project Co . C2 C3 Ct A -80,000 100,000 0 0 0 0 B 30,000 30,000 30,000 80,000 -80,000 30,000 lo C 20,000 20,000 20,000 20,000 20,000 (a) What is the payback period for each project? (b) Which project is preferred according to the NPV criterion if the discount rate is 8%? (c) How would the the answer to (a) change if the discount rate was 5%? (d) What is the Internal Rate of Return (IRR) for each project? Use the editor to format your answer $ 120 minutes remaining