Please include formulas

Problem 8-21 NPV and Payback Period [LO 1, 4] 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 11 percent. Year WN Project F -$ 144,000 55,500 54,500 64,500 59,500 54,500 Project G -$ 214,000 35,500 50.500 94,500 124,500 139,500 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 years Project F 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? (Click to select)