Evaluate the following projects G and H with their respective cash flows:

Project G:

• Initial investment: -$90,000
• Year 1: $25,000
• Year 2: $30,000
• Year 3: $35,000
• Year 4: $40,000

Project H:

• Initial investment: -$85,000
• Year 1: $20,000
• Year 2: $25,000
• Year 3: $30,000
• Year 4: $35,000

a. Compute the NPV, IRR, and payback period for both projects, with a discount rate of 6 percent.

b. Decide which project(s) should be chosen if they are independent and which should be chosen if they are mutually exclusive.