(A) Consider the following two mutually exclusive projects: Cash Flow Cash Flow Year (B) 0 $360,000 $45,000 1 35,000 23,000 55,000 21,000 55,000 18,500 4 430,000 13,600 NM 2 3 Whichever project you choose, if any, you require a return of 14 percent on your investment a-1 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.) Project A Project B 3.98 years 2.69 years a-2 If you apply the payback criterion, which investment will you choose? Project A Project B b-1 What is the discounted payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) years Project A Project B years