DEF Ltd. is considering two projects, C and D. Project C requires an investment of $55,000 and is expected to produce cash inflows of $15,000, $18,000, $20,000, and $22,000 over the next four years. Project D requires an investment of $70,000 and is expected to produce cash inflows of $20,000, $25,000, $28,000, and $30,000 over the next four years. The company's required rate of return is 9%.

Requirements:

1. Calculate the NPV of Project C.
2. Calculate the NPV of Project D.
3. Compare the NPVs and recommend the better project.