• Project A: Initial Investment: $14,000; Cash Inflows: Year 1: $3,000; Year 2: $4,000; Year 3: $5,000; Year 4: $5,000; Year 5: $6,000
• Project B: Initial Investment: $18,000; Cash Inflows: Year 1: $4,000; Year 2: $5,000; Year 3: $6,000; Year 4: $6,000; Year 5: $7,000
• Project C: Initial Investment: $20,000; Cash Inflows: Year 1: $5,000; Year 2: $5,500; Year 3: $6,500; Year 4: $7,000; Year 5: $8,000

Requirements:

1. Compute the NPV for each project using an 8% discount rate.
2. Calculate the IRR for each project.
3. Determine the Payback Period for each project.
4. Assess the profitability using the Profitability Index (PI).
5. Recommend the best project based on NPV and IRR analysis.