You are the financial controller at XYZ Corporation. The company is considering two projects, Alpha and Beta. Both projects have an initial cost of $200,000, and the company's discount rate is 10%. The expected net cash flows for each project are as follows:

Expected Net Cash Flows (in $):

Year	Project Alpha	Project Beta
0	(200,000)	(200,000)
1	70,000	60,000
2	80,000	70,000
3	90,000	80,000
4	50,000	90,000

Requirements:

1. Calculate the payback period for each project.
2. Compute the Net Present Value (NPV) for both projects.
3. Determine the Internal Rate of Return (IRR) for each project.
4. Identify which project should be accepted if they are mutually exclusive.

Discuss the impact of the projects on the company's financial health.