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5) Given the cash flows of the two projects, R and S, and using the Payback period decision model, which projects do you accept and which projects do you reject with a three year cut-off period for recapturing the initial cash outflow? Give your opinion which project better. Assume that the cash flows are equally distributed over the year for Payback Period calculations. Cash Flows Project R Project 5 Initial Cost $24,000 $18,000 Cash flow year one $6,000 $9,000 Cash flow year two $8,000 $6,000 Cash flow year three $10,000 $6,000 Cash flow year four $12,000 $3,000