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Pound Industries is attempting to select the best of threemutually exclusive projects. The initial investment and? after-taxcash inflows associated with these projects are shown in thefollowing table.Cash flowsProject AProject BProject CInitial investment? (CF)? $140,000$170,000$170,000Cash Flows (CF)T= 1 to 15?$45,000 $56,500 57,000a. Calculate the payback period for each project.b. Calculate the net present value? (NPV) of each? project,assuming that the firm has a cost of capital equal to 8%.c. Calculate the internal rate of return? (IRR) for eachproject.d.?Indicate which project you would recommend.a.The payback period of project A is .............years.??The payback period of project B is.............years.???The payback period of project C is...........years.???b The NPV of project A is ?$ ____________.c. The NPV of project B is ?$__________.d. The NPV of project C is ?$___________.e. The IRR (Internal rate of return) for project a,b,c.f. Indicate which project you would recommend.