PQR Inc. is a construction company considering investing in new equipment to improve efficiency and productivity. The company has identified two options: Option A costs $300,000 and has an expected useful life of 5 years, while Option B costs $500,000 and has an expected useful life of 8 years. PQR Inc. expects annual cash inflows of $100,000 for Option A and $150,000 for Option B. The company's required rate of return is 10%.

Conduct a detailed capital budgeting analysis, comparing the net present value (NPV), internal rate of return (IRR), and payback period for both options to determine the most financially viable investment for PQR Inc.