Consider the following two mutually exclusive projects Cash Flow Cash Flow Year (A) (B) 346,000 48,000 24,400 49,000 69,000 22,400 69,000 19,900 444,000 15,000 Whichever project you choose, if any, you require a 16 percent return on your investment. a-1 What is the payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e 32.16.) Payback period Project A years Project B years a-2 If you apply the payback criterion, which investment will you choose? Project A O Project B b-1 What is the discounted payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Discounted payback period Project A years Project B years b-2 If you apply the discounted payback criterion, which investment will you choose? Project A O Project B c-1 What is the NPV for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) NPV Project A Project B c-2 If you apply the NPV criterion, which investment will you choose? O Project A Project B