XYZ Inc. is evaluating the purchase of two machines, Machine A and Machine B. The costs and cash inflows associated with each machine are as follows:

Year	Machine A	Machine B
0	-$3,000,000	-$2,500,000
1	$1,000,000	$900,000
2	$1,200,000	$1,100,000
3	$1,300,000	$1,200,000
4	$900,000	$1,000,000

Requirements:

1. Determine the NPV for each machine using a discount rate of 8%.
2. Determine the IRR for each machine.
3. Which machine should be purchased based on the NPV?
4. Which machine should be purchased based on the IRR?