Urban Development Corp is considering two real estate development projects, Project East and Project West. The following are the projected cash flows:

Year	Project East	Project West
0	$(400)	$(350)
1	100	120
2	150	130
3	200	140
4	250	160

The firm's hurdle rate is 8%. Analyze the following:

a. Compute the payback period for each project. b. Calculate the NPV for both projects. c. Determine the IRR for each project. d. Which project should be chosen based on NPV and IRR? e. Discuss the financial implications of choosing Project East over Project West.