. 10-3 The Lion Co. is considering two independent projects: A and B. The required rate of return on both projects is 11%. The expected annual cash inflows from each project are as follows: . Initial outlay, Year O Inflow, Year 1 Inflow, Year 2 Inflow, Year 3 Inflow, Year 4 Inflow, Years Inflow, Year 6 Project A $50,000 $12,000 $12,000 $12,000 $12,000 $12,000 $12,000 Project B -$70,000 $13,000 $13,000 $13,000 $13,000 $13,000 $13,000 a. Calculate the Payback Period for each project. Which project(s) should be accepted? Explain. Project A: Project B