Healthcare Innovations is evaluating two potential projects, Project MedTech and Project BioHealth. The expected net cash flows are:

Year	Project MedTech	Project BioHealth
0	$(500)	$(450)
1	150	120
2	180	150
3	210	180
4	240	200

The required rate of return is 11%. You need to determine:

a. The payback period for each project. b. The NPV for both projects. c. The IRR for each project. d. Which project should be selected based on NPV and IRR? e. What are the strategic benefits of each project?