Question: What are the relevant cash flows associated with each project? Please include projected cash flows for the next 5 years. 2. Use NPV and IRR to determine the feasibility of the projects. 3. Should they use the recommended 4% discount rate? Why or why not? 1. Can you think of any spillover effects that should be considered? Are there any other non-quantifiable aspects that the other departments should consider as well? 2. Which investment project should be recommended to the Board of Directors and why?