Q3. Assume there is no Sustainability and ESG factors impacts on the cash flows for the following three Projects, please answer the following question (a) \& (b) (a) What are the payback periods for each project? Which project would you recommend? (b) What are the NPV for each project if the cost of capital to these projects is 4% ? Which one would you choose? (c) Inflation is one of the property risks that affects property investment performance. Discuss inflation risk in detail and how to manage it.