DEF Inc. has two investment opportunities. Below are the details:

	Project Alpha	Project Beta
Cost of Capital	8%	10%
Initial Investment	$100,000	$120,000
Cash Inflow Year 1	$40,000	$50,000
Cash Inflow Year 2	$50,000	$60,000
Cash Inflow Year 3	$60,000	$70,000

Requirements:

1. Calculate the simple payback period for each project.
2. Determine the profitability index (PI) for each project.
3. Compute the NPV of each project.
4. Calculate the IRR for each project.

Advise which project should be undertaken based on the financial analysis.