A company has two projects $to$ choose from with the following annual after$-$tax cash flows:

Project $A$

Investment $(today)$ $$700,000$

Investment $(Year1)$ $$400,000$

Years $2-8$ $$600,000$

Project $B$

Investment $(today)$ $$1,600,000$

Years $1-8$ $$750,000$

The firm$scostof$ capital $is15$ percent.

Compute both projects$$ payback period and discounted payback period