Consider the following three projects. All three have an initial investment of $$500,000$

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Requirements

Determine the payback period of each project. Rank the projects from most desirable to least desirable based on payback

Are there other factors that should be considered in addition to the payback period?

Requirement $1.$ Determine the payback period of each project. Rank the projects from most desirable to least desirable based on payback.

First, determine the payback period of each project $($Enter the payback period as a numeral.

$\backslash$table$[[$Project$,\backslash$table$[[$Payback period in$],[$years$]]],[$Project $L,$years$],[$Project $M,$years$],[$Project $N,$years$]]$

Data table

$\backslash$table$[[$Year$,$Net Cash Inflows$],[$Project L$,$Project $M,$Project $N$