Below are the estimated cash flows for two mutually exclusive projects for a company. The company has a WACC of 8%

YEAR PROJECT A PROJECT B

0 -200 -350

1 120 200

2 80 130

3 40 70

What is the payback period for Project A? (pick the closest one)

a) 1 year

b) 2 years

c) 1.5 years

d) 2.3 years

What is the payback period for Project B? (pick the closest one)

a) 3 years

b) 2.40 years

c) 2 years

d) 1.6 years

Please show work :)) I'm struggling!!!