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Senior management asks you to recommend a decision on whichproject(s) to accept based on the cash flow forecasts provided.Thefirm uses a 3-year cutoff when using the payback method. The hurdlerate used to evaluate capital budgeting projects is 15%.Assume the projects are independent and answer thefollowing:Calculate the payback period for each project.Which project(s) would you accept based on the paybackcriterion?Calculate the internal rate of return (IRR) for eachproject.Which projects would you accept based on the IRRcriterion?Calculate the net present value (NPV) for each project.Which projects would you accept based on the NPV criterionProject AProject BProject CYear 0-30,000-20,000-50,000Year 104,00020,000Year 27,0005,00020,000Year 320,0006,00020,000Year 420,0007,0005,000Year 510,0008,0005,000Year 65,0009,0005,000