ABC Manufacturing is considering two investment opportunities, Project Alpha and Project Beta.

Project Alpha:

Year	Cash Flow ($)
Year 0	-50,000
Year 1	20,000
Year 2	30,000
Year 3	10,000

Project Beta:

Year	Cash Flow ($)
Year 0	-70,000
Year 1	30,000
Year 2	25,000
Year 3	20,000

The discount rate for both projects is 12%.

Requirements: a) Calculate the payback period for each project. b) Identify which project should be chosen if the projects are mutually exclusive with a payback period threshold of 2 years. c) Calculate the internal rate of return (IRR) for each project. d) Determine which project should be accepted based on the IRR rule if the projects are mutually exclusive. e) Calculate the NPV for each project and suggest which project should be selected based on NPV.