A company is evaluating two projects, C and D, both requiring a $30,000 initial investment. The after-tax cash inflows are as follows:

Year	Project C	Project D
1	$12,000	$10,000
2	$10,000	$9,000
3	$8,000	$11,000
4	$5,000	$8,000

Requirements: a. Calculate each project’s net present value if the opportunity cost is 10 percent. b. Calculate the internal rate of return for each project. c. Determine which project should be accepted if they are mutually exclusive. d. Assess the payback period for each project.