GHI Corporation is considering two expansion projects. Both require an initial cash outlay of ₹25,000 and have a life of 5 years. The company's required rate of return is 10%, and it pays no taxes. The projects will be depreciated on a straight-line basis. The net cash flows expected to be generated by the projects and the present value (PV) factor (at 10%) are as follows:

Year	1	2	3	4	5
Project Alpha (₹)	6,000	6,000	6,000	6,000	6,000
Project Beta (₹)	8,000	4,000	3,000	5,000	7,000
PV factor (at 10%)	0.909	0.826	0.751	0.683	0.621

Requirements:

• Compute the NPV of each project.
• Determine which project should be accepted based on NPV.
• Calculate the IRR for each project.
• Assess the payback period for each project.