Company MNO is evaluating two projects with the following cash flows:

Year	Project G	Project H
0	-$100,000	-$120,000
1	$25,000	$30,000
2	$25,000	$30,000
3	$25,000	$30,000
4	$25,000	$30,000
5	$25,000	$100,000

Requirements:

1. Calculate the payback period for each project.
2. Determine the NPV at a discount rate of 8%.
3. Calculate the IRR.
4. If the projects are mutually exclusive, recommend which project should be selected and why.