4. Farrah Corporation is considering two projects (see below). For your analysis, assume these projects are mutually exclusive with a required rate of return of 12%. Initial investment Cash inflow Year 1 Project 1 $185,000 $230,000 Project 2 $1,100,000 $1,450,000 Compute the following for each project: NPV (net present value) PI (profitability index) IRR (internal rate of return) Which project should be selected? Why