ABC Ltd. is considering two projects, Projects Alpha and Beta. The company's discount rate is 12%. The projects’ cash flows are:

Year	Project Alpha	Project Beta
0	($150,000)	($150,000)
1	40,000	60,000
2	50,000	40,000
3	70,000	50,000
4	90,000	30,000

Requirements:

1. Calculate the payback period for each project.
2. Compute the NPV for each project.
3. Find the IRR for each project.
4. Determine which project should be chosen if the projects are mutually exclusive.
5. Discuss the risk implications of each project.