Consider the following two mutually exclusive projects:

Year	Cash Flow (A)				Cash Flow (B)
0	$	364,000			$	52,000
1		46,000				25,000
2		68,000				22,000
3		68,000				21,500
4		458,000				17,500

Whichever project you choose, if any, you require a return of 11 percent 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.g., 32.16.)

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 and round your answers to 2 decimal places, e.g., 32.16.) 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 and round your answers to 2 decimal places, e.g., 32.16.) 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? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) 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 calculations and round your answers to 3 decimal places, e.g., 32.161.)