Compute the (a) net present value, (b) internal rate of return (IRR), and (c) discounted payback period (DPB) for each of the following projects. The firm's required rate of return is 14%.
Year: Project Alpha Project Beta
0 $(270,000) $(300,000)
1 120,000 0
2 120,000 (80,000)
3 120,000 555,000