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Payback NPV IRR - choosing a project

To whom it may concern,

I have put together a solution for this problem but it may be flawed. Please do the following:

1. Read the problem
2. Review my spreadsheet - I have put together an assumptions and Cash Flow for each option.
3. Help me ascertain which project is the best.

I am choosing Option #2 Wilson - it has a lower NPV but a greater IRR. Can you help me understand which is best?