Intel Corporation is evaluating two investment projects with the following details:

Project A:

• Initial Investment: $1,000,000
• Annual Cash Inflows: $300,000

Project B:

• Initial Investment: $1,500,000
• Annual Cash Inflows: $400,000

Calculate the payback period and net present value (NPV) for each project. Provide a recommendation on which project Intel should invest in based on the payback period and NPV analysis.