You must decide which project to invest in by analyzing two projects. Project 1 has an initial investment cost of $40,000. This one should produce $9,000 in net cash flows each year for 7 years. Project 2 has initial investment cost of $35,000 with expected net cash flow of $7,500 per year for 5 years. Both investments have a 12% cost of capital 1) What is the NPV for each project? 2) what is the IRR for each project? 3) What is each project's payback period? 4) What is each project's PI? 5) which project do you recommend?