Procter & Gamble Co. is evaluating three investment projects. Project A requires an initial investment of $200,000 and generates cash flows of $50,000 per year for 6 years. Project B requires an initial investment of $250,000 and generates cash flows of $60,000 per year for 7 years. Project C requires an initial investment of $300,000 and generates cash flows of $70,000 per year for 8 years. Calculate the payback period and net present value (NPV) for each project using a discount rate of 8%.

Project	Initial Investment	Annual Cash Flows	Maturity (Years)	Payback Period	NPV (at 8%)
A	$200,000	$50,000	6
B	$250,000	$60,000	7
C	$300,000	$70,000	8