Apple , has the following mutually exclusive projects.

a1. Calculate the payback period for each project. (Do not round intermediate calculations and round your answers to 3 decimal places, e.g., 32.161.) Please show formulas as calculations in detail.

Project A _________ years

Project B _________ years

a2. If the company's payback period is two years, which, if either, of these projects should be chosen? Please show formulas and calculations in detail

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b1. What is the NPV of each project if the appropriate discount rate is 16 percent? (A negative answershould be indicated by a minus sign. Don't round intermediate calculations & round answers to 2 decimal places, e.g., 32.16.) Please show work

b2. Which, if either, of projects should be chosen if appropriate discount rate is 16%? Show work

a. Project A

b. Project B

c. Both Projects

d. Neither Project

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