%.18 Using payback to make capital investment decisions Learning sider the following three projects. All three have an initial investment of $800,000 Consi Net Cash Inflows Project L Project M Project N Annual Accumulated Annual Accumulated Annual Accumulated 1$ 100,000 $ 100,000 $ 200,000 200,000 $400,000 $ 400,000 2 100,000 3 100,000 4100,000 400,000 400,000 1,200,000 450,000 400,00 800,000 200,000 250,000 350,000 800,000 5 100,000 500,000 500,000 1,700,000 5100,000600,000 7100,000 700,000 100,000 800,000 Requirements 1. Determine the payback period of each project. Rank the projects from most 2. Are there other factors that should be considered in addition to the payback desirable to least desirable based on payback. period