Two projects, O and P, both require a $80,000 initial investment. The cash inflows are as follows:

Project O:

• Year 1: $35,000
• Year 2: $30,000
• Year 3: $25,000
• Year 4: $20,000

Project P:

• Year 1: $25,000
• Year 2: $35,000
• Year 3: $30,000
• Year 4: $25,000

Requirements: a. Calculate the NPV for each project using a 9% discount rate. b. Find the IRR for both projects. c. Determine the discounted payback period for both projects. d. Analyze which project should be selected based on the NPV and IRR.