Long-term Investment decision, payback method Personal Finance Problem Bill Willams has the opportunity to invest in project that costs $8.000 today and promises to pay $2,100, $2,400, $2,400, $2.000 and $1.800 over the next 5 years. Or, Bill can invest $8,900 in project that promises to pay $1,300 $1,300. 1.300. $3,500 and $4,000 over the next 5 years. (Hint: For mixed stream cash innows, calculate cumulative enshinews on a year to your basis ones the initial investments recovered.) a. How long will it take for Bal to recoup his initial investment in project A? b. How long will it take for Bill to recoup his initial investment in project B? c. Using the payback period, which project should Bill choose? d. Do you see any problems with his choice? a For Bill to recoup his initial investment in project A, it will take years. (Round to two decimal places.)