Data table Net Cash Inflows | Project L Project M Project N Year Annual Accumulated Annual Accumulated Annual Accumulated Year 1 $275,000 $ 275,000 $ 125,000 $ 125,000 $ 550,000 $ 550,000 Year 2 275,000 550,000 225,000 350,000 550,000 1,100,000 Year 3 275,000 825,000 750,000 1,100,000 Year 4 275,000 1,100,000 850,000 1,950,000 Year 5 275,000 1,375,000 900,000 2,850,000 Year 6 275,000 1,650,000 Year 7 275,000 1,925,000 Year 8 275,000 2,200,000 Print Done Consider the following three projects. All three have an initial investment of $1,100,000. (Click the icon to view the investments.) Requirements 1. 2. Determine the payback period of each project. Rank the projects from most desirable to least desirable based on payback. Are there other factors that should be considered in addition to the payback period? Requirement 1. Determine the payback period of each project. Rank the projects from most desirable to least desirable based on payback. First, determine the payback period of each project. (Enter the payback period as a numeral.) Project Project L Project M Project N Payback period in years years years years Now, rank the projects from most desirable to least desirable based on payback. Projects - Most to least desirable Requirement 2. Are there other factors that should be considered in addition to the payback period? A. Yes. The company should consider which projects will generate cash flows after the payback period. In addition, the company should rank the projects based on the results of other evaluation methods (e.g., accounting rate of return, net present value, profitability index, and internal rate of return) and possible qualitative factors. B. No. The payback period is the only quantitative factor necessary for a comparison of investments. C. No. The payback period is the only qualitative factor necessary for a comparison of investments