4. Consider the following two mutually exclusive projects:

Year	Cash Flow (A)		Cash Flow (B)
0	$	432,000	$	43,500
1		40,500		21,100
2		65,500		12,600
3		82,500		22,100
4		547,000		18,900

The required return on these investments is 13 percent.

a. What is the payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

	Payback period
Project A	Years
Project B		Years