Investment Project Evaluation at Chevron Corporation

Requirements:

1. Evaluate Chevron Corporation's investment projects using NPV, IRR, and payback period methods.

Investment Project	Initial Investment ($)	Annual Cash Flows ($)	Project Life (years)
Project Gamma	12,000,000	3,000,000	6
Project Delta	9,000,000	2,500,000	5

2. Calculate the NPV and IRR for both projects.
3. Determine the payback period for each project.
4. Recommend which project should be undertaken based on financial criteria.