Problem 8-24 Payback, Discounted Payback, and NPV (LO1, 3) A firm is considering the following projects. Its opportunity cost of capital is 12%. Time: Project A B C 0 -5,500 -1,500 -5,500 Cash Flows, $ 1 2 3 +1, 125 +1, 125 +3, 250 0 +1,500 +2, 250 +1, 125 +1, 125 +3,250 0 +3,250 +5,500 a-1. What is the payback period on each project? (Do not round intermediate calculations. Round your answers to the nearest whole number.) Payback Period years Project A Project B Project C years years 2-2. What is the discounted payback period on each project? (Do not round intermediate calculations. Round your answers to 2 decimal places. If any of the projects does not pay back on a discounted basis, enter zero ("O").) Discounted Payback Period years Project A Project B Project C years years b. Given that you wis b. Given that you wish to use the payback rule with a cutoff period of 2 years, which projects would you accept? es Project A Project B Project C Projects A,B c. If you use a cutoff period of 3 years with the discounted payback rule, which projects would you accept? Project A Project B Project C Projects A,B