Consider the following two mutually exclusive projects

Year $0$ Cash flow$(1)-$$$352,000$ Cash flow $-$$$49,000$

Year $1.$ Cash flow $(1)43,000.$ Cash flow $(2)23,800$

Year $2.$ Cash flow $(1)63,000$ Cash flow $(2)$ $$21,800$

Year $3.$ Cash flow $(1)$ $$63,000$ Cash flow $(2)19,300$

Year $4.$ Cash flow $(1)$ $$438,000$ Cash flow $(2)$ $$14,400$

Whichever project you choose, if any you require a return of $15\%$ on your investment.

$1.$ What is the payback period for each project?

$2.$ If you apply the payback criterion, which investment will you choose?

$3.$ What is the discounted payback period for each project?

$4.$ If you apply the discounted payback criterion which investment will you choose?

$5.$ What is the NPV for each project?

$6.$ What is the IRR for each project?

$7.$ If you apply the IRR criterion which investment will you choose?

$8.$ If you apply the profitability index criterion which investment will you choose?

$9.$ Based on your answers in $($a$)$ through $($e$)$ which project will you finally choose?