Consider the following two mutually exclusive projects:

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

The required return on these investments is 13 percent.

a. What is the payback period for each project?

Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.

b. What is the NPV for each project?

Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.

c. What is the IRR for each project?

Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.

d. What is the profitability index for each project?

Note: Do not round intermediate calculations and round your answers to 3 decimal places, e.g., 32.161.

e. Based on your answers in (a) through (d), which project will you finally choose?