Consider the following three projects. All three have an initial investment of $1,000,000. B (Click the icon to view the investments.) Requirements 1. Determine the payback period of each project. Rank the projects from most desirable to least desirable based on payback. 2. 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.) Payback period in Project years Project L years Data Table Project M years Project N years - X Net Cash Inflows Project L Year Annual Accumulated Year 1 $ 125,000 S 125,000 $ Year 2 125,000 250,000 Year 3 125,000 375,000 Project M Project N Annual Accumulated Annual Accumulated 75,000 $ 75,000 $ 500,000 $ 500.000 125,000 200,000 500,000 1,000,000 225,000 425,000 575,000 1,000,000 675,000 1,675,000 Year 4 125,000 500,000 Year 5 125,000 125,000 625,000 750,000 Year 6 Year 7 125,000 875,000 Year 8 125,000 1,000,000 Print Done