Consider four projects, which you expect

to generate the following cash flows:

Year Project A Project B Project C Project D

0 (300,000) (3,000) (300,000) (300,000)

1 315,000 25,000 150,000 120,000

2 _______________150,000 150,000

3 _______________150,000 190,000

Your required return on all of the investments is 6%. For each project estimate the Payback Period, Internal Rate of Return (IRR), and Net Present Value (NPV). If these projects are independent which should you undertake? If the investments are mutually exclusive which should you accept?