NITIN my FIN 313 Exercise #2 Consider the following two mutually exclusive projects: Project S Project L t=0 -1,000,000 - 1,000,000 t=1 900,000 0 t=2 250,000 250,000 t=3 10,000 400,000 t=4 10,000 800,000 The required rate of return is 10 percent. 1. Calculate the payback period for each project. Using the payback decision rule, which project should be accepted? 2. Calculate the discounted payback period for each project. Using the discounted payback decision rule, which project should be accepted