A company is evaluating two projects, Q and R. Project Q costs $4,000 and generates $1,500 annually for 4 years. Project R costs $3,500 and returns $1,300, $1,400, $1,500, and $1,600 over 4 years.

1. Calculate the NPV for both projects using a 9% discount rate.
2. Determine the IRR for each project.
3. Illustrate the payback period for both projects.
4. Recommend which project to choose based on NPV and IRR.