#33

A firm is considering two projects, A and B. Each project will last for 4 years. The projects are INDEPENDENT. The projected cash flows for each project are shown below:

Year	0	1	2	3	4
Project A	-20.00	8.00	8.00	7.00	5.00
Project B	-31.00	9.00	9.00	9.00	7.00

The cost of capital for the firm is 8.00%.

With the projects independent, what projects will you accept given the firm's cost of capital? (A, B, BOTH, or NONE)

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Answer format: Text

#35

Consider the following project:

Year	0	1	2	3	4
Project A	-20.00	8.00	7.00	10.00	4.00

Find the payback for this project. (ROUND TO TWO DECIMAL PLACES)

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Answer format: Number: Round to: 2 decimal places.