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Andrea Prosper, president of Pearl Manufacturing is trying to select the best alternative from four potential investemnts. Each investment involves an initial outlay of $110,000. Their cash flows follow:         YearNortheastSoutheastNorthwestSouthwest    1 $ 20,000 $ 60,000 $ 30,000 $        –      2        25,000        35,000 $  30,000           –      3        25,000        30,000 $  30,000        45,000    4        45,000                 –   $  30,000        65,000    5        55,000                 –   $  30,000        85,000             Evaluate and rank each alternative based on a) payback period, b) net present value (use an 11% discount rate), and c) internal rate of return.Be sure to show your work in an excel file!              a) What is the Payback Period for for each alternative?     Northeast       Southeast       Northwest       Southwest                   Which alternative would you choose using the payback period?           b) What is the Net Present Value for each project using a 11% discount rate?   Northeast       Southeast       Northwest       Southwest                   Which alternative would you choose using the NPV using a 11% discount rate?         c) What is the IRR for each Project?      Northeast       Southeast       Northwest       Southwest                   Which alternative would you choose using the IRR?