The Commodore Co. is trying to decide between the following two
mutually exclusive projects:
		
	Cash Flows
Year	Project I	Project II
0	-$18,000	-$12,000
1	$8,500	        $6,500
2	$9,000	        $6,000
3	$9,500	        $7,000

	
The only requirement the company has is that any project that is
accepted must produce a minimum rate of return of 11%. What should the
company do and why?  Your answer should integrate an analysis of NPV,
IRR and Payback period and should discuss the merits/weaknesses of
each method before presenting your conclusion.