Problem 9-3 Calculating Payback (LO2) McKernan Inc. imposes a payback cutoff of three years for its international investment projects. The company has the following two projects Cash Flow Cash Flow Year (A) (B) 0 -$ 62,600 -$ 73,000 1 24,000 16,000 2 29,000 19,000 3 22,000 27,000 4 9,000 231,000 What is the payback period for both projects? (Round the final answers to 2 decimal places.) Payback period Project A years years Project B Which project should the company accept? Project A O Project B Problem 9-3 Calculating Payback (LO2) McKernan Inc. imposes a payback cutoff of three years for its international investment projects. The company has the following two projects Cash Flow Cash Flow Year (A) (B) 0 -$ 62,600 -$ 73,000 1 24,000 16,000 2 29,000 19,000 3 22,000 27,000 4 9,000 231,000 What is the payback period for both projects? (Round the final answers to 2 decimal places.) Payback period Project A years years Project B Which project should the company accept? Project A O Project B