Consider a company with $150,000 to invest in Project C or Project D. The projected cash flows are as follows:

Year	Project C	Project D
1	$30,000	$25,000
2	$30,000	$25,000
3	$30,000	$25,000
4	$30,000	$25,000
5	$30,000	$25,000

The cost of capital is 18%.

Required: a) For each project, calculate:

• Payback period
• Discounted payback period
• Net present value
• Internal rate of return
• Profitability index

b) Which project should the company choose based on these metrics?