Innovative Solutions Inc. is planning to invest in Project Green or Project Blue. Each project requires an initial outlay of $1,000,000. The projected cash flows are as follows:

Year	Project Green	Project Blue
0	-$1,000,000	-$1,000,000
1	$300,000	$250,000
2	$350,000	$300,000
3	$400,000	$350,000
4	$450,000	$400,000

a. Determine the payback period for each project. b. Using a cost of capital of 10%, calculate the NPV for both projects and suggest which project should be chosen.