60 Sparkle Co. has an opportunity to invest in two business initiatives: M1 and 22. Expected cash flow data for these two projects is shown below: M1 22 2019 -140 -140 2020 2021 60 2022 2023 Assume these two projects are independent of each other, and Sparkle's WACC is 12% Calculate the payback period of the two projects. Calculate the discounted payback period of the two projects. 75 Payback period for Project Alpha Iyears Payback period for Project Beta Based on payback period, preferred is: Discounted cash flows: MiZ2 2020 2021 2022 2023 Discounted payback period for Mi years Discounted payback period for ZZ Based on discounted payback, preferred is