PQR Services is evaluating two projects, Project A1 and Project B1.

Project A1:

Year	Cash Flow ($)
Year 0	-70,000
Year 1	20,000
Year 2	25,000
Year 3	30,000
Year 4	35,000

Project B1:

Year	Cash Flow ($)
Year 0	-100,000
Year 1	30,000
Year 2	35,000
Year 3	40,000
Year 4	45,000

The discount rate for Project A1 is 8%, and for Project B1 is 10%.

Requirements: a) Calculate the payback period for each project. b) Determine which project should be selected if the company requires a payback period of 3 years. c) Calculate the IRR for each project. d) Decide which project should be accepted based on the IRR rule. e) Calculate the NPV for each project and recommend which project should be accepted based on NPV.