Given the following mutually exclusive projects with their respective cash flows:

Year	Project H Cash Flow (₹)	Project I Cash Flow (₹)	Project J Cash Flow (₹)
0	-7,500	-6,000	-4,000
1	2,000	1,500	1,200
2	2,500	2,000	1,800
3	3,000	2,500	2,400
4	3,500	3,000	3,000

Requirements:

1. Calculate the payback period for each project.
2. Determine which project to select if the standard payback period is 3 years.
3. Calculate the discounted payback period at a cost of capital of 15%.
4. Compute the NPV at a discount rate of 15% and recommend a project.

Calculate the profitability index (PI) for each project.