$.($Payback period calculations$)$ You are considering three independent projects:

project A$,$ project B$,$ and project C$.$ Given the following free cash flow information,

calculate the payback period for each.

PROJECT A PROJECT B PROJECT C

Initial outlay $2$$$1,0002$$$10,0002$$$5,000$

Inflow year $16005,0001,000$

Inflow year $23003,0001,000$

Inflow year $32003,0002,000$

Inflow year $41003,0002,000$

Inflow year $55003,0002,000$

If you require a $3-$year payback before an investment can be accepted, which project$($s$)$

would be accepted?