Consider the following investment projects:

Year	Project E Cash Flow (₹)	Project F Cash Flow (₹)	Project G Cash Flow (₹)
0	-5,000	-8,000	-3,500
1	1,200	2,500	1,000
2	1,800	3,000	1,500
3	2,200	3,500	2,000
4	2,800	4,000	2,500

Requirements:

1. Calculate the payback period for each project.
2. If the standard payback period is 3 years, which project will you select? Will your answer differ if the standard payback period is 2 years?
3. Compute the discounted payback period for each project using a cost of capital of 12%. Which projects will you recommend if the standard discounted payback period is 2 years and 3 years, respectively?
4. Compute the NPV of each project at a discount rate of 12%. Which project will you recommend based on the NPV criterion?
5. Calculate the IRR for each project. Which project has the highest IRR?