Please show work & anwsers

15. The Long-Line is considering mutually exclusive investments. Each investment is expected to cost $220,000. Assume 20 percent discount rate. The cash flows are as follows: Year Chemical Co. Water Co. 1 $10,000 $95,000 2 $36,000 $95,000 3 $40,000 $92,000 4 $75,000 $85,000 5 $90,000 $50,000 6 $90,000 $35,000 7 $90,000 $25,000 As a manager of the firm considering the above projects, what should you do under the Payback Period and why? (6 points)