A company is evaluating two potential projects with the following cash flows:

Project G:

• Initial Investment: $1,600,000
• Year 1: $450,000
• Year 2: $550,000
• Year 3: $650,000
• Year 4: $750,000

Project H:

• Initial Investment: $1,600,000
• Year 1: $500,000
• Year 2: $600,000
• Year 3: $700,000
• Year 4: $800,000

The discount rate for both projects is 10%.

Questions:

1. Calculate the NPV for Project G and Project H.
2. Determine the IRR for both projects.
3. Which project should the company choose based on NPV and IRR? Justify your answer.