Evaluate the following investment projects using the NPV and IRR methods. Assume a discount rate of 9% for NPV calculations.

Project A:

• Initial Cost: $150,000
• Year 1: $40,000
• Year 2: $50,000
• Year 3: $60,000
• Year 4: $70,000

Project B:

• Initial Cost: $200,000
• Year 1: $60,000
• Year 2: $70,000
• Year 3: $80,000
• Year 4: $90,000

Requirements:

1. Calculate the NPV for both projects.
2. Calculate the IRR for both projects.
3. Recommend which project to undertake based on NPV and IRR results.