The company that you are working in has three projects in hand which it can consider. Table 1 depicts the cash flows of these three different projects. They are Project Alpha, Beta and Charlie. The cash flows for the next five years are provided in Table 1.

Table 1: Cash Flows of Three Different Projects

Period	Project Alpha ($)	Project Beta ($)	Project Charlie ($)
Year 0	(3,000)	(3,000)	(3,000)
Year 1	1,500	1,500	1,500
Year 2	1,500	1,600	0
Year 3	1,500	1,000	1,500
Year 4	1,500	1,200	0
Year 5	1,500	1,500	1,800

The firm's cost of capital is 10 percent for each project.

The questions to be answered are:

1. Calculate the payback period for each project.
2. Calculate NPV for each project.
3. Which are the projects that are considered as viable in accordance to the NPV rule?
4. Calculate profitability index for each project.
5. Calculate the IRR for each project.
6. The company only has funds to finance two of the projects. Which two projects should be financed?