ABC Ltd. is considering two investment options. Both require an initial investment of ₹20,000 and have a life of 6 years. The company's required rate of return is 8%, and it pays no taxes. The projects will be depreciated on a straight-line basis. The net cash flows expected to be generated by the projects and the present value (PV) factor (at 8%) are as follows:

Year	1	2	3	4	5	6
Project X (₹)	4,500	4,500	4,500	4,500	4,500	4,500
Project Y (₹)	6,000	3,500	2,500	6,500	5,000	5,000
PV factor (at 8%)	0.926	0.857	0.794	0.735	0.681	0.630

Requirements:

• Calculate the NPV of each project.
• Determine the Internal Rate of Return (IRR) for each project.
• Calculate the Accounting Rate of Return (ARR) for each project.
• Assess the payback period for each project.
• Recommend which project to undertake based on the above analysis.