Kaleb Konstruction, Inc., has the following mutually exclusive projects available. The company has historically used a three-year cutoff for projects. The required return is 14 percent.

Year Project F Project G 0 $ 138,000 $ 208,000 1 58,500 38,500 2 51,500 53,500 3 61,500 91,500 4 56,500 121,500 5 51,500 136,500

Required: (a) Calculate the payback period for both projects. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)

Payback period Project F years Project G years

(b) Calculate the NPV for both projects. (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)

Net present value Project F $ Project G $

(c) Which project should the company accept?