Cash Flow Analysis (in $)

Year	Project U	Project V
0	-35,000	-40,000
1	6,000	7,000
2	8,000	9,000
3	10,000	11,000
4	12,000	13,000

Requirements:

1. Calculate the payback period for each project.
2. Select the project if the standard payback period is 3 years.
3. Compute the discounted payback period at an 8% discount rate.
4. Compute the IRR for each project.
5. Recommend the project based on IRR.