a-1. Calculate the payback and discounted payback period for each project. (Do not round Intermediate calculations. Round answers to 2 decimal places.) Payback period for project A Payback period for project B Discounted payback period for project A Discounted payback period for project B 1.67 years 3.00 years 1.92 years 3.53 years a-2. Which project appears to be preferable using these methods? According to payback period method, According to discounted payback period method, is preferred since it pays back is preferred since it pays back a-3. What are the major flaws in these methods? While the period method is relatively easy to use, its major disadvantages are 0 It does not take into consideration the time value of money and (1) it ignores cash flows beyond the payback period. The main flow of the period is that it does not consideresh flows beyond the payback period and therefore, it may on occasion incorrectly rojoct positive NPV projects