MNO Ltd. is deciding between two projects that require ₹15,000 each and have a 5-year life. The company's required rate of return is 13%, and it pays a tax rate of 35%. Both projects will be depreciated on a straight-line basis. The net cash flows (pre-tax) and the PV factor (at 13%) are as follows:

Year	1	2	3	4	5
Project 1	6,000	7,000	7,500	8,000	8,500
Project 2	9,000	6,000	7,000	6,500	5,000
PV factor	0.885	0.783	0.693	0.613	0.543

You are required to:

1. Determine the NPV for each project.
2. Decide which project to invest in.