ABC Corp is evaluating two projects: Alpha and Beta. Both projects require an initial investment of $15,000 and have a life of 4 years. The company’s cost of capital is 8%. The following are the projected cash flows:

Year	Project Alpha	Project Beta
1	$5,000	$6,000
2	$5,000	$4,000
3	$5,000	$3,000
4	$5,000	$7,000

Requirements:

1. Calculate the Net Present Value (NPV) of each project.
2. Determine which project is more viable based on NPV.
3. Compute the Internal Rate of Return (IRR) for each project.
4. Identify the Payback Period for each project.