$1.$ Use the following information to answer Questions $1$ and $3.$

Time: Year $0$ Year $1$ Year $2$ Year $3$ Year $4$ Year $5$ Discount Rate

Investment A: $-$$$1\mathrm{.}2$ million $$300,000$ $$300,000$ $$300,000$ $$500,000$ $$500,0008\%$

Investment B: $-$$$1$ million $$300,000$ $$300,000$ $$300,000$ $$300,000$ $$300,0008\%$

What is the project A$$s payback periods?

$3\mathrm{.}40$

$3\mathrm{.}60$

$3\mathrm{.}75$