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P10-21 (similar to)All? techniques, conflicting rankings???Nicholson Roofing?Materials, Inc., is considering two mutually exclusive? projects,each with an initial investment of?$150,000.The? company's board of directors has set a? 4-year paybackrequirement and has set its cost of capital at7?%.The cash inflows associated with the two projects are shown inthe following? table:LOADING....a. Calculate the payback period for each project. Rank theprojects by payback period.b.??Calculate the NPV of each project. Rank the project byNPV.c.??Calculate the IRR of each project. Rank the project byIRR.d.??Make a recommendation.a.??The payback period of project A isnothingyears.?Cash inflows?(CFt?)YearProject AProject B1?$50,000?$65,0002?$50,000?$60,0003?$50,000?$40,0004?$50,000?$40,0005?$50,000?$40,0006?$50,000?$40,000