You have been asked to evaluate the following 2 projects using only profitability models. Project Purple Interest Rate = 196 Inflation = 196 Fixed Investment = $700,000 Annual Cash Inflow = $100,000 Avg. Annual Profit = $10,000 Project Orange Interest Rate = 2% Inflation = 2% Fixed Investment = $480,000 Annual Cash Inflow = $80,000 Avg. Annual Profit = $25,000 The Payback Period (PP) for project Purple is years The Payback Period (PP) for project Orange is years For the following answers use two decimals after the comma and round if necessary. (e. g. 0.12555 will be 0.13 and not 13.00%) The Average Rate of Return (ARR) for project Purple is The Average Rate of Return (ARR) for project Orange is If you were making a decision based purely on Average Rate of Return (ARR), you would select the project If you were making a decision based purely on Payback Period (PP), you would select the project