Question: 3. Two new software projects are proposed to a young, start-up company. The Alpha project will cost $460,000 to develop and is expected to have

3. Two new software projects are proposed to a

3. Two new software projects are proposed to a young, start-up company. The Alpha project will cost $460,000 to develop and is expected to have annual net cash flow of $60,000. The Beta project will cost $240,000 to develop and is expected to have annual net cash flow of $35,000. The company is very concerned about their cash flow. Calculate the payback period for each project. Which project is better from a cash flow standpoint? (Round your answers to two decimal places.) (5 Points)

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