Three investment opportunities, Project A, Project B, and Project C, have the following cash flows:

Year	Project A	Project B	Project C
0	-$4,000,000	-$3,500,000	-$5,000,000
1	$1,000,000	$1,200,000	$1,500,000
2	$1,500,000	$1,700,000	$2,000,000
3	$2,000,000	$1,800,000	$2,500,000
4	$2,500,000	$2,000,000	$3,000,000

Requirements:

1. Calculate the NPV of each project using a cost of capital of 11%.
2. Calculate the IRR of each project.
3. Determine which project offers the best return.
4. Discuss the sensitivity of each project to changes in the discount rate.

Provide a recommendation on which project to invest in.