Mixed table and bullet points format:

Projects	Initial Cost (₹)	Year 1 (₹)	Year 2 (₹)	Year 3 (₹)	Year 4 (₹)	Year 5 (₹)
U	30,000	6,000	6,000	6,000	6,000	10,000
V	25,000	5,000	5,000	5,000	5,000	8,000
W	20,000	4,000	4,500	5,000	5,500	6,000
X	15,000	3,000	3,500	4,000	4,500	5,000

Required:

• Calculate the payback period for each project.
• Identify which project meets a standard payback period of 3.5 years.
• Compute the NPV for each project using a discount rate of 9%.
• Determine the IRR for each project.
• Provide a recommendation based on both NPV and IRR.