Consider the following two mutually exclusive projects: Year Cash Flow Cash Flow 1234 (A) -$390,000 (B) -$74,000 78,000 40,000 73,000 30,000 73,000 27,500 448,000 22,600 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.) Project A Project B Payback Period years 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.) Discounted Payback Project A Project B Period years years