Consider the following two mutually exclusive projects: The required return on these investments is 13 percent.

Year	Cash Flow (A)	Cash Flow (B)
0	$422,000	$38,500
1	45,500	20,100
2	60,500	13,600
3	77,500	17,100
4	537,000	13,900

Required:

(a) What is the payback period for each project? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) Payback period: Project A years? Project B years?

(b) What is the NPV for each project? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) Net present value: Project A $? Project B $?

(c) What is the IRR for each project? (Do not round intermediate calculations. Enter your answers as a percentage rounded to 2 decimal places (e.g., 32.16).) Internal rate of return: Project A %? Project B %?

(d) What is the profitability index for each project? (Do not round intermediate calculations. Round your answers to 3 decimal places (e.g., 32.161).) Profitability index: Project A? Project B?