Consider the following two mutually exclusive projects: Year 0 1 2 3 4 Cash Flow (A) -$420,000 72,000 92,000 72,000 447,000 Cash Flow (B) -$ 71,000 38,000 29,000 26,500 21,600 Whichever project you choose, if any, you require a 15% return on your investment. a-1. What is the payback period for each project? (Round the final answers to 2 decimal places.) Payback Period 3.41 years Project A Project B 2.42 years a-2. If you apply the payback criterion, which investment will you choose? Project A Project B b-1. What is the discounted payback period for each project? (Do not round intermediate calculations. Round the final answers to 2 decimal places.) b-1. What is the discounted payback period for each project? (Do not round intermediate calculations. Round the final answers to 2 decimal places.) Discounted Payback Period 3.94 years Project A Project B 3.38 x years b-2. If you apply the discounted payback criterion, which investment will you choose? Project A Project B C-1. What is the NPV for each project? (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) NPV 15,088.78 Project A Project B $ 7,658.74 c-2. If you apply the NPV criterion, which investment will you choose? Project A Project B d-1. What is the IRR for each project? (Round the final answers to 2 decimal places.) IRR 16.30 Project A Project B 20.57 d-2. If you apply the IRR criterion, which investment will you choose? Project A Project B e-1. What is the profitability index for each project? (Do not round intermediate calculation. Round the final answers to 3 decimal places.) Profitability Index 1.040 Project A Project B 1.110 e-2. If you apply the profitability index criterion, which investment will you choose? Project A Project B