Alpha Corp. is evaluating two investment opportunities. Both projects require an initial investment of USD 100,000. The cash flows are as follows:

Year	Cash Flows (Project X)	Cash Flows (Project Y)
Initial Investment	(100,000)	(100,000)
1	30,000	20,000
2	40,000	30,000
3	50,000	50,000
4	10,000	40,000

Requirements: a. Compute the payback period for each project. b. Calculate the NPV of each project if the discount rate is 10%. c. Determine the Internal Rate of Return (IRR) for both projects and decide which project should be selected based on IRR.