A firm has two (2) capital projects A and B, which are under consideration for funding. Both projects cost $500 million, and have the following cash flows (in millions):

Year	Project A	Project B
0	-$500	-$500
1	100	400
2	200	300
3	200	200
4	400	100

Assuming that the firms payback cutoff is two (2) years: a. What is the payback for each project? b. If the projects are independent, which one should be selected? Explain. c. If the projects are mutually-exclusive, which one should be selected? Explain.