Project 1 (€)	Project 2 (€)	Project 3 (€)
Initial Investment	12,000	18,000
Net Cash Inflows
Year 1	4,500	5,500
Year 2	6,000	6,000
Year 3	2,500	5,500
Year 4	1,500	8,000
Year 5	1,000	3,000

Requirements:

1. Calculate the Payback Period for each project.
2. Determine the Net Present Value (NPV) of each project using a discount rate of 10%.
3. Calculate the Internal Rate of Return (IRR) for each project.
4. Analyze which project is the best investment based on NPV and IRR.
5. Assess the sensitivity of NPV to changes in the discount rate for each project.