Projected Cash Flows (in $)

Year	Project E	Project F
0	-20,000	-25,000
1	4,000	5,000
2	6,000	7,000
3	10,000	11,000
4	14,000	15,000

Requirements:

1. Calculate the payback period for each project.
2. Determine which project to select if the standard payback period is 3 years.
3. Compute the discounted payback period for each project at a 10% discount rate.
4. Calculate the NPV of each project.
5. Evaluate which project you will recommend based on NPV.