Activity: in$-$class problemsYour manager has requested you to use the payback period analysis to assist hir in selecting between two projects. He has given you the following information.For the first project, the initial investment is $50,000$ OMR. The expected cash inflows are $5,000$ OMR every month for the first year, and then $7,500$ every quarter for the second year. He estimates that the project will generate aroun$3000$ OMR per month starting year three. How long is payback for this project?The second project also has an initial investment of $50,000$ OMR but the projec an annual income of $17,500.$ What is the payback period for this project?Which project do you recommend he invest in$?$