Company XYZ is evaluating two investment projects. The firm's cost of capital is 10%, and the tax rate is 32%.

Project Alpha:

• Initial Investment: $6,000,000
• Life: 5 years
• Annual Pre-tax Cash Flow: $1,400,000
• Depreciation: Straight-line

Project Beta:

• Initial Investment: $7,500,000
• Life: 6 years
• Annual Pre-tax Cash Flow: $1,800,000
• Depreciation: Straight-line

You need to calculate:

1. Discounted Payback Period.
2. Net Present Value (NPV).
3. Internal Rate of Return (IRR).
4. Modified Internal Rate of Return (MIRR).